PetrolChina becomes the largest listed corporation in the world!

PetrolChina becomes the largest listed corporation in the world!
Nov 7, 2007 00:23
KATRINA Points: Join Date: Nov 29, 2004 Status: offline	According to the news, PetrolChina has replaced Exxon Mobil to become the largest listed company in the world by market value. On Monday, PetrolChina made its debut on Shanghai Stock Exchange. The company's shares opened at 48.6 yuan and ended at 43.96 yuan. An analyst said that 'PetrolChina is trying to increase its crude oil production to match its refining capacity by landing on mainland A shares market'. The statistics shows that PetrolChina's market value has reached one trillion dollars, surpassing Exxon Mobil, valued at US$487.7 billion to be the largest listed company. By selling its four A shares, PetrolChina has raised 66.8 billion yuan (US$8.9 billion). On the other hand, PetrolChina's return on mainland stock market could help 'drain excess liquidity on the domestic market and add weight to the industrial blue chips, which in turn would help maintain the stability of the domestic capital market.' said a report released by Citic Securities.

Nov 7, 2007 00:23

KATRINA
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Join Date: Nov 29, 2004
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According to the news, PetrolChina has replaced Exxon Mobil to become the largest listed company in the world by market value. On Monday, PetrolChina made its debut on Shanghai Stock Exchange.

The company's shares opened at 48.6 yuan and ended at 43.96 yuan. An analyst said that 'PetrolChina is trying to increase its crude oil production to match its refining capacity by landing on mainland A shares market'. The statistics shows that PetrolChina's market value has reached one trillion dollars, surpassing Exxon Mobil, valued at US$487.7 billion to be the largest listed company. By selling its four A shares, PetrolChina has raised 66.8 billion yuan (US$8.9 billion).

On the other hand, PetrolChina's return on mainland stock market could help 'drain excess liquidity on the domestic market and add weight to the industrial blue chips, which in turn would help maintain the stability of the domestic capital market.' said a report released by Citic Securities.

Nov 7, 2007 03:40	#1
DREAMLIFE Points: Join Date: Sep 5, 2007 Status: Offline	Those who are optimistic about this news, please read this article 'PetroChina has right to look Exxon in the eye', written by Ed Crooks and Robin Kwong on the website of Financial Times. Here is the link: http://www.ft.com/cms/s/0/a85599ca-8ca1-11dc-b887-0000779fd2ac,dwp_uuid=9c33700c-4c86-11da-89df-0000779e2340.html?nclick_check=1 We should objectively treat this issue.

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