PetroChina was the first company to surpass a $1 trillion market capitalization on its stock-market debut.
PetroChina shares began trading in Shanghai on November 5, 2007. The opening surge briefly gave the Chinese oil company a valuation above $1 trillion, making it the first listed company to reach that level on its first day of trading.
The event occurred during a period of strong enthusiasm for Chinese equities and high global oil prices. PetroChina is the publicly traded arm of China National Petroleum Corporation, one of China’s major state-owned energy groups.
The debut valuation did not remain stable. The share price later fell substantially, illustrating why market capitalization milestones based on opening or intraday prices can differ from longer-term rankings. Saudi Aramco later set a different record as the largest initial public offering by money raised.