Trump tweet calls for Saudi Aramco to be listed in New York

Trump tweet calls for Saudi Aramco to be listed in New York
Saudi Arabia has called for the New York stock market to handle the public listing of Saudi Aramco, what's expected to the world's biggest IPO.
1 min read
04 November, 2017
Donald Trump has pleaded with Saudi Aramco to choose New York for its IPO [Getty]
US President Donald Trump pleaded with Saudi Aramco to choose New York's stock market for its public listing next year, in what is expected to be the world's biggest initial public offering (IPO).

The early morning tweet appears aimed at giving the US a slice of Saudi Aramco's five percent public offering, with Riyadh hoping the oil giant will be valued at $2 trillion, a figure many economists view as over optimistic.

"Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!" Trump said in a tweet.

Saudi Arabia is likely to float the oil giant on the Riyadh market although international options are on the table with the US making great efforts to host the IPO.

London is tipped as one possible venue for the IPO with plans by City's regulators to water down ruled that would allow the sale to go ahead in the UK.