Former Shell PLC (LSE:SHEL, NYSE:SHEL) boss Ben van Beurden has given his verdict on whether the oil giant should move its listing from London to the US.
Van Beurden said he believes rivals listed in the US benefit from higher multiples, wider access to cash and a more welcoming investor community.
This discrepancy in valuations between Europe and North America is a "major issue" and argued Shell is "massively undervalued".
The former oil chief also believes US investors have "more positive" attitudes regarding the industry.
Even so, Shell hit an all-time high in London earlier today, with the group's valuation lifting to £182.4 billion.
Current Shell boss Wael Sawan yesterday warned: "If we work through the sprint (turnaround plan) and we are doing what we are doing, and we still don’t see that the (valuation) gap is closing, we have to look at all options.”
Shares rose 1% to 2,841p.