Wildly successful IPO gives China 5 of world's top 10 companies
(NEWSER) - In its first day of trading, PetroChina Co. became the world’s most valuable company, hitting $1 trillion in market capitalization after shares nearly tripled to 43.96 yuan from an IPO of 16.7 yuan. It’s now worth more than the entire Russian stock market. Some analysts interpreted the valuation as “an indication of China coming of age,” Bloomberg reports. For others, it’s a sign of an unsustainable market bubble. More»
