Setting records: PetroChina makes its domestic debut
PetroChina makes $9bn debut
PetroChina has raised 66.8 billion yuan ($8.92 billion) from it’s A share initial public offering on the Shanghai Stock Exchange, making it China's largest domestic IPO to date.
PetroChina priced the four billion new A shares at 16.70 yuan ($2.23) each - the top of the price range.
The new shares account for 2.18% of the firm's enlarged share capital.
A shares are yuan-denominated shares of Chinese companies listed on mainland exchanges and restricted to approved foreign investors.
The company said earlier it expects the A shares to start trading on the Shanghai Stock Exchange on 5 November.
According to its prospectus, PetroChina plans to spend about 37.8 billion yuan from the proceeds to increase crude-oil output, refining capacity and its ethylene-production capacity.