PetroChina briefly reached a $1 trillion market capitalization on its 2007 Shanghai listing.
PetroChina surged on its first day of trading in Shanghai on November 5, 2007, briefly giving the company a market value of about $1 trillion. The dramatic price movement made it one of the most valuable publicly traded companies in the world at that moment.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its activities include exploration, production, refining, chemicals, marketing, and natural-gas operations.
The valuation was short-lived and was influenced by the unusually high prices reached by the newly listed A-shares. A market capitalization based on one exchange’s price can differ from valuations implied by another share class or listing, so the record is often described as a brief intraday event.