Shell not looking at New York relisting at the moment, CEO says

LONDON (Reuters) – Shell is not actively looking at relisting in New York at the moment, and is focused on share repurchases, CEO Wael Sawan said on Thursday.

Sawan said on a call with analysts that the company has a responsibility to look at all opportunities to bridge Shell’s valuation gap with its U.S. rivals.

“We will always have something like a listing or other elements under review, but I can tell you that there’s not a live discussion at the moment for us,” Sawan said.

Shell’s shares were trading below “fair market value at the moment”, he added.

(Reporting by Ron Bousso; Editing by Jan Harvey)