PetroChina was the first company to reach a $1 trillion market capitalization on its first day of trading.
PetroChina made its Shanghai Stock Exchange debut on November 5, 2007. Its shares surged on the opening day, briefly giving the company a market value above $1 trillion. The event 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 businesses cover oil and gas exploration, production, refining, chemicals, and fuel distribution.
The valuation soon fell as the share price declined, illustrating why market-cap records based on a single trading day can be temporary. PetroChina’s debut is also distinct from an IPO fundraising record: its headline achievement was the market value reached after trading began.