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Trump: Saudi Aramco should consider NYSE listing

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/11/2017 (15:04)
According to media reports, US President Donald Trump has urged the state-run Saudi Aramco to strongly consider the USA for public listing.

The President stated that he was recently engaged in talks with the king of Saudi Arabia over a possible listing in the New York stock exchange (NYSE) or Nasdaq.

Saudi oil giant has recently revealed that the company has been progressing with its plans to offer its shares to public by 2018.

According to the company’s plans, Saudi Aramco will sell 5% of its shares in an initial public offering and raise nearly $100 billion in return to be used in the kingdom’s economic projects.

The company was last reported to be evaluating New York and London stock exchanges for the possible listing.

The New York stock exchange is the world’s largest stock exchange with more than $21 trillion in market value.

However, the recent news about the arrest of a board member at Aramco casts fresh doubt over oil giant’s listing, according to news agencies.
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