TechnipFMC said on Thursday it plans to wrap up its separation into two independent, publicly traded companies later this month.
Namely, the last day of trading of TechnipFMC shares that include the right to receive Technip Energies shares on the New York Stock Exchange and Euronext Paris stock exchange will be 12 February and 15 February, respectively.
TechnipFMC shares would then commence trading on a standalone basis on NYSE and Euronext Paris on 16 February 2021.
As a result, Technip Energies will on the same date become an independent public company and no longer part of TechnipFMC.
Accordingly, Technip Energies shares will commence trading on an if-and-when-delivered basis on Euronext Paris at on 16 February 2021, with delivery on 23 February 2021. Regular trading in the Technip Energies shares on Euronext Paris will start on 19 February 2021.
The company put off the initial separation in March last year due to the COVID-19 pandemic.
As reported earlier, the move will result in TechnipFMC, a fully integrated technology and services provider; and Technip Energies – engineering and technology player.
Doug Pferdehirt, chairman and CEO of TechnipFMC, will continue to serve in its role following the separation.
TechnipFMC will remain incorporated in the UK with headquarters in Houston and listings on both the NYSE and Euronext Paris.
Technip Energies will be incorporated in the Netherlands with its headquarters in Paris.
Arnaud Pieton, who currently serves as president Technip Energies, will serve as CEO.