Donald Trump wants Saudi Aramco listed in the New York Stock Exchange

Trump wants to send Americans $1,000 checks to cushion the virus economic shock.
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President Donald Trump told reporters on Sunday as Air Force One flew to Japan that he wants Saudi Arabia “to strongly consider the New York stock exchange or Nasdaq or frankly anywhere else located in this country”. He said they had not been considering it because of “litigation, risk and other risk”.

London and other major cities with exchanges have also been vying for the international listing. However, the state-owned oil giant’s finances have long been opaque and there is reportedly concern that a public listing in New York or London, for example, could bring with it unwanted scrutiny and demands for transparency by shareholders.

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Saudi Arabia is expected to take a small portion of Saudi Aramco, which controls some of the world’s largest oil reserves, public some time in 2018. While it is expected to list its shares on Saudi Arabia’s own stock market, known as Tadawul, it is also expected to do what is known as a dual listing with another stock exchange internationally.

Source Credit: The Guardian
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