Trump pushes Saudi state oil company to list on the New York Stock Exchange
President Trump posted on Twitter Saturday — morning in the United States, evening in Japan, where Trump is beginning his Asia tour — to push Saudi Arabia's state-run oil company, Aramco, to make its initial public offering (IPO) of stock at the New York Stock Exchange:
The tweet came shortly after another post boasting of the American stock market's strength.
Aramco, which The Economist reports is "almost certainly the world's most valuable company," is expected to list 5 percent of its shares in 2018. Riyadh has yet to indicate whether the state-owned corporation will make an international offering or limit the stocks to domestic Saudi markets.
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Trump has courted a closer relationship between Washington and Saudi Arabia since taking office, signing the largest arms deal in American history with Riyadh in May.
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Bonnie Kristian was a deputy editor and acting editor-in-chief of TheWeek.com. She is a columnist at Christianity Today and author of Untrustworthy: The Knowledge Crisis Breaking Our Brains, Polluting Our Politics, and Corrupting Christian Community (forthcoming 2022) and A Flexible Faith: Rethinking What It Means to Follow Jesus Today (2018). Her writing has also appeared at Time Magazine, CNN, USA Today, Newsweek, the Los Angeles Times, and The American Conservative, among other outlets.
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