Posted by Staff Writer on 11/7/2017 to
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IncSmart New York (Small Business and Startups) - Trump pushes for Aramco to offer IPO in New York, at the New York Stock Exchange. He is urging Saudi Arabia to list shares of its biggest oil company in New York. Saudi Arabia has not been looking at New York for fear of litigation and risk. Advisers to Saudi Aramco have concerns with the about the US listing, which has greater reach than other jurisdictions.
Saudi Arabia is preparing to sell shares of its state-run oil company which is the world’s largest energy company. The initial public offering will be $100 billion and could have value of Aramco at $2 trillion. As Saudi Arabia’s government has started a surprise anti-corruption sweep over the weekend, markets fear the destabilization of the Kingdom’s market ahead of the IPO.
By IncSmart Staff Writer
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