World's largest IPO opens in China

November 05, 2007

PetroChina marked the world's biggest IPO this year, and the largest-ever IPO in China's domestic market. PetroChina, and its smaller rivals Sinopec Corp and CNOOC, account for more than 90 percent of China's crude oil and natural gas output. Shares in the previous record holder Shenhua Energy, which drew U.S. $362 billion with a Shanghai IPO in September, rose nearly 90 percent in their debut.