The DJI index is displayed on the floor of the New York Stock Exchange
Tikehau Capital is considering a dual listing or an outright transfer to the New York Stock Exchange, a spokesperson for the asset management company said on Thursday, confirming comments from the group's founders to the Financial Times.
Tikehau considers its share price to be undervalued in relation to its fundamentals, which could be explained in particular by a lack of liquidity on the French market, explained Raphaël Thuin, director of capital markets strategies at Tikehau, on Thursday.
A dual listing or a listing transfer is just one of “different means” the asset manager is considering to address this problem, the manager adds.
Founded in 2004, Tikehau has been listed on the Paris Stock Exchange since 2017.
According to its founders Mathieu Chabran and Antoine Flamarion, a listing in the United States would make it possible to exploit the liquidity of the American markets, to stimulate the brand in a context of consolidation in the sector and to increase Tikehau's presence among individual investors.
“Building the brand takes a lot of time and energy. A listing in the US, where finance was invented, makes sense from a brand perspective,” Antoine Flamarion told the FT.
“We are in the process of determining” whether to opt for a main listing in the United States or a dual listing between Paris and New York, Mathieu Chabran told the financial daily.
At the end of September, Tikehau had assets under management of 47.1 billion euros.
On the Paris Stock Exchange, Tikehau shares fell 0.495% to 20.40 euros at 2:07 p.m. GMT.
(Reporting by Corentin Chappron, Mathieu Rosemain, written by Kate Entringer, edited by Blandine Hénault)
