The biggest listed Chinese company, PetroChina, has recently overtook General Electric to become the world's second-biggest company by market capitalisation, next only to Exxon Mobil Corp. Now, PetroChina is ready to beat Exxon Mobil Corp. This has been eased by the recent IPO which PetroChina came up with for the domestic investors. Presently, it is listed in HongKong and US. After its listing on November 5, its market capitalization is expected to be more than 800 billion USD. Exxon has a market cap of $ 485 billion and PetroChina's combined market cap in the US and Hongkong is about $450 billion.
Earlier PetroChina raised $9 billion in the biggest IPO of the China overtaking the record set by China Shenhua Energy when it raised $8.8 billion from investors last month. PetroCina's IPO is the biggest of this year.
Earlier PetroChina raised $9 billion in the biggest IPO of the China overtaking the record set by China Shenhua Energy when it raised $8.8 billion from investors last month. PetroCina's IPO is the biggest of this year.
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