Trump Pitches NYSE for Saudi Oil Giant’s IPO
The president “would very much appreciate” Saudi Arabia picking New York for what would be the largest initial public offering ever.
Jonathan Ernst/Reuters
President Donald Trump on Saturday urged Saudi Arabia to list its oil giant, Aramco, on the New York Stock Exchange in what would be the largest initial public offering ever. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!” Trump wrote on Twitter. Trump’s comments, made hours before he was due to depart for his 11-day Asia tour, reportedly took the Saudi company by surprise, Bloomberg reported, citing a source familiar with the matter. The Saudi government hopes to raise $100 billion in the IPO by selling just 5 percent of the company. British Prime Minister Theresa May and Japanese Prime Minister Shinzo Abe have also previously called on the Saudi government to bring Aramco to their domestic exchanges, but Trump’s Twitter comments appear to be the most public appeal yet.
Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!
— Donald J. Trump (@realDonaldTrump) November 4, 2017
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