United States President Donald Trump urged Saudi Aramco on Saturday to choose the New York Stock Exchange for its initial public offering (IPO).
"Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!" Trump tweeted.
Saudi Arabia plans to offer 5% of the oil company in an international IPO and the country's Foreign Minister Adel al-Jubeir stated the IPO could be expected "sometime in 2018." The government-controlled Aramco has considered exchanges in New York, Tokyo, London and Toronto for the listing which is expected to be worth around $2 trillion.
