Proactive Investors - Former Shell PLC (LSE:LON:SHEL, NYSE:SHEL) boss Ben van Beurden has given his verdict on the debate 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.
He believes the discrepancy in valuations between Europe and North America is a "major issue" and argued Shell (LON:RDSa) is "massively undervalued".
The former oil chief also believes US investors have "more positive" attitudes regarding the industry.
Shell hit an all-time high earlier today, with the group's valuation lifting to £182.4 billion.
It comes a day after Shell boss Wael Sawan 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.”