Technip Energies Shares Soar on First Trading Day

Matthieu Protard
Tuesday, February 16, 2021

Shares in Technip Energies skyrocketed on Tuesday, the first trading day after Franco-American oilfield company TechnipFMC split its engineering and construction activities from its upstream oil services business.

Shares were up 31.5% at 11.83 euros at 0901 GMT ($14.38), above the IPO reference price of 9 euros.

TechnipFMC on Monday completed its spin-off deal to create two publicly traded companies, TechnipFMC and Technip Energies.

Technip Energies, which specializes in engineering and technologies for liquefied natural gas, hydrogen, and ethylene, said last month it aimed for 2021 revenue of between 6.5 billion euros and 7 billion euros.

The company also said it targeted an operating margin of between 5.5% and 6% this year.

($1 = 0.8228 euros) 

(Reporting by Matthieu Protard; Editing by Kirsten Donovan)

Categories: Activity Energy LNG Oilfield Services People and Companies

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