PetroChina became the first company to reach a $1 trillion market capitalization on its stock-market debut.
PetroChina reached the milestone on November 5, 2007, when its shares began trading in Shanghai. The opening surge briefly made it the world’s most valuable company by market capitalization, although its price later fell substantially.
PetroChina is the publicly listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its business includes oil and gas exploration, production, refining, and marketing.
This event is often confused with Saudi Aramco’s later record IPO or with companies that crossed $1 trillion after years of trading. PetroChina’s distinction was the speed of the debut: its initial Shanghai trading itself produced the trillion-dollar valuation, based on a very high opening price.