November 04, 2017
  • Saudi Aramco, the world's largest oil company, plans to list its shares on the Saudi domestic stock market and one or more foreign exchanges in the second half of 2018.
  • On Saturday, President Donald Trump made a high-profile pitch for Saudi Aramco to list on the New York Stock Exchange.
Trump pitches Saudi Aramco to list IPO stock on the NYSE, calling it important to the US

Saudi Aramco just got a high-profile pitch for its upcoming initial public offering. It came from the president of the United States himself.
The world's largest oil company will debut its shares on the Saudi domestic market, called the Tadawul, but it is also expected to list on at least one foreign exchange in the second half of next year. Its decision, which it has yet to announce, is being closely watched.
On Saturday, President Donald Trump specifically requested the company opt for the New York Stock Exchange, tweeting that the IPO would be "important" to the U.S. Trump is currently in Hawaii ahead of a 13-day tour through Asia.

The Big Board is the world's largest equity market trading companies with a combined market capitalization of $21.3 trillion as of June and is seen as an enduring symbol of American capitalism.
Where Saudi Aramco lists also carries weighty regulatory implications for the company, as listing on a U.S. or European exchange comes with financial disclosure requirements, as well as Western-style corporate governance and transparency expectations.



The Trump administration has been engaged in an aggressive courtship of Saudi Arabia, in part as a check against the ambitions of Iran. In May, as part of Trump's maiden trip abroad, the U.S. inked a $350 billion arms deal with the nation, in a move that solidified an alliance marred by controversy over the years.
Saudi Aramco's offering is likely to be one of the biggest, if not the biggest, in history. Depending on who's being asked, the company's valuation is pegged at somewhere north of $1 trillion. Recently, the company has appointed JPMorgan Chase, Morgan Stanley and HSBC to assist with its mammoth IPO next year.



Last month, Saudi Aramco CEO Amin Nasser told CNBC the plan to take a portion of the state-owned oil giant's business public next year remained on track, but was cagey about its choice of an international listing venue.
In that interview, Nasser said that the Saudis "enjoyed" Trump's trip to the kingdom, calling it "a very successful visit... [that] gained a lot of support here in terms of strengthening relations and collaboration between Saudi Arabia and the U.S."
Spokespeople for both Saudi Aramco and the NYSE declined to comment on Saturday.
Business
Global Vehicle to Grid Market 10 Year Forecast Report 2024-2034 - Supportive Government Regulations and Financial Incentives for V2G Deployment
DUBLIN, March 18, 2024 /PRNewswire/ -- The "Vehicle to Grid (V2G) Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering. World revenue for Vehicle-to-Grid (V2G) Market is forecast to surpass US$ 4.31 billion in 2024, with strong revenue growth through to 2034. Escalating Demand for Electricity, Coupled With a Global Commitment to Reduce Reliance on Fossil Fuels, Resulting in a Surge in the Adoption of Electric VehiclesThe vehicle-to-grid (V2G) market is witnessing unprecedented growth driven by a confluence of factors shaping the future of sustainable transportation and power management. Key drivers include the escalating demand for electricity, coupled with a global commitment to reduce reliance on fossil fuels, resulting in a surge in the adoption of electric vehicles (EVs). This market is characterized by opportunities that lie in the integration of renewable energy sources, such as solar and wind, to meet energy demands, while also addressing challenges associated with the variable nature of these sources.The primary driver for the V2G market is the escalating demand for electricity worldwide. Governments and industries are increasingly recognizing the need for sustainable and low-emission solutions, driving the widespread adoption of EVs. The electrification of the transportation sector not only addresses environmental concerns but also provides a unique opportunity for EVs to serve as mobile energy storage units. This bidirectional flow of power, where EVs can both draw and supply energy to the grid, is a key driver propelling the V2G market forward.Opportunities in the V2G market are abundant, particularly in the integration of renewable energy sources. As countries strive to meet ambitious renewable energy targets, V2G technology becomes an enabler for managing the intermittent nature of solar and wind power. This creates opportunities for smart grid solutions and advanced energy storage systems. Additionally, the idle times of parked EVs present an untapped opportunity for bidirectional ...Full story available on Benzinga.com
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