PetroChina briefly became the first company to reach a $1 trillion market cap on its stock-market debut in 2007.
PetroChina’s Shanghai listing took place on November 5, 2007. Its shares surged on the first day of trading, giving the company a market value near or above $1 trillion at the intraday peak. The valuation was extraordinary because it made PetroChina one of the most valuable listed 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 business includes oil and gas exploration, production, refining, transportation, and sales.
The milestone was brief: the share price later fell substantially, so the company did not retain that valuation for long. It is also different from the 2019 Saudi Aramco offering, which became the largest initial public offering by funds raised.