Tikehau Capital, the French asset manager, is considering moving its listing to New York from Paris as it seeks to attract more capital in the United States, a spokesperson said on Thursday, confirming a Financial Times report.
Management is “spending time” weighing up whether to go for a primary listing in the U.S. or to add a secondary one in New York, Mathieu Chabran, a Tikehau co-founder along with Antoine Flamarion, told the FT.
He added that a U.S. listing would make it possible to exploit the liquidity of the American markets and attract more retail investors.
Tikehau Capital is a fast-growing investment manager, with a focus on private credit. It has been listed on Euronext Paris since 2017.
The group had 47.1 billion euros worth of assets under management at the end of September.
European stock exchanges including Euronext and the London Stock Exchange have struggled to attract new listings in recent years as more companies remain private and a booming U.S. market lures the biggest names.
With a combined $26.8 billion in initial public offerings by the end of September, according to KPMG data, Wall Street’s main Nasdaq and NYSE exchanges are currently the world’s largest IPO markets.
A larger investor base and less red tape mean they are attracting European businesses looking to launch secondary listings or delist in their home markets.
On Thursday, Veon (NASDAQ: VEON), the Mobile telecom operator, confirmed its shares would cease trading on Euronext Amsterdam on Friday, making New York’s Nasdaq its sole listing location.
