Tags: Trump Administration | President Donald Trump | Saudi Arabia | Aramco | New York Stock Exchange

Trump Urges Saudi Arabia to Sell Aramco Shares on NYSE

Trump Urges Saudi Arabia to Sell Aramco Shares on NYSE
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By    |   Saturday, 04 November 2017 10:09 AM

President Donald Trump on Saturday urged Saudi Arabia to sell shares of its national oil company, Aramco, on the New York Stock Exchange.

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

Aramco is the largest energy company in the world and, according to experts, the sale could be the biggest in history. The Saudis have indicated they could open the door and launch the company in the international stock market in 2018.

Saudi Arabia does not take money directly from the sale of oil, but puts it instead in Aramco. The company earns money and then pays the government in taxes, fees and royalties, Forbes reported.

The Saudi government is shifting its emphasis from a welfare state economy to one that promotes economic growth, thereby reducing the dependence on oil, the article explained.

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President Donald Trump on Saturday urged Saudi Arabia to sell shares of its national oil company, Aramco, on the New York Stock Exchange."Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!"...
President Donald Trump, Saudi Arabia, Aramco, New York Stock Exchange
178
2017-09-04
Saturday, 04 November 2017 10:09 AM
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