United States President Donald Trump has urged Saudi Arabia to list the shares of its biggest oil company Aramco on the New York Stock Exchange (NYSE), ahead of a massive Initial Public Offering (IPO).
Trump, in a Twitter post, wrote, “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!”
Saudi leaders have considered selling five percent of the company in an initial public offering (IPO) 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, reported independent.
Trump has a close relationship with Saudi Arabia. He visited there over the summer and signed a $110 billion defense deal with King Salman.