Donald Trump has publicly taken a position on Saudi Arabia plans to sell shares in its national oil company, Aramco, on the New York Stock Exchange. State-owned oil giant Aramco is readying what's set to be the biggest initial public offering ever. The Saudi company that The Economist calls "almost certainly the world’s most valuable company" is reportedly preparing to list about 5 percent of its shares next year, but rumors say the listing might be domestic only.
"Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange," the US President tweeted. "Important to the United States!" Trump is pushing for the company to list on the New York Stock Exchange. Aramco is the largest energy company in the world, and experts say its equity sale could be the largest in stock market history.
Saudi leaders have considered selling five per cent of the company in an initial public offering since early last year. Saudi Crown Prince Mohammed bin Salman is expected to make the final decision as to which foreign stock market – if any – will be able to list shares.
President Trump on Saturday took a position on plans for Saudi Arabia’s national oil company to make an initial public offering on the stock market. Trump is pushing for the company to list on the New York Stock Exchange.
“Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!” he tweeted. Saudi leaders have been considering the IPO since early last year and have yet to announce a decision.
Trump has a close relationship with Saudi Arabia. He visited over the summer and there signed a $110 billion defense deal with Saudi King Salman. The president is currently in Hawaii on the first stop ahead of his five-nation, 13-day Asia tour.
