The A-shares of PetroChina Company Limited are expected to start trading on the Shanghai Stock Exchange on November 5, with stock code "601857" under the name "PetroChina," the company said in an announcement on Thursday.

 

The company has completed its A-share initial public offering (IPO), raising the amount of its outstanding shares to 183 billion, including 21 billion H-shares and 162 billion A-shares.

 

Apart from the four billion A-shares issued in the public offering, PetroChina's parent, China National Petroleum Corporation (CNPC), holds the rest of the 158 billion shares, 86.29 percent of the total.

 

The A-shares were priced at the higher end of 16.7 yuan in the IPO, which means the nation's largest oil producer has raised 66.8 billion yuan in its A-share listing on the Shanghai Stock Exchange, surpassing the 66.58 billion yuan achieved by China Shenhua Energy Company, the country's largest coal producer, earlier this month.

 

The fully diluted earnings per share of PetroChina will be 0.74 yuan, and net asset value per share 3.58 yuan after the IPO.

 

PetroChina's price rose 2.6 percent to 19.9 HK dollars on Thursday in Hong Kong stock market.

 

The company is the first of the country's three petrochemical giants including Sinopec and the China National Offshore Oil Corp. (CNOOC) to get listed on overseas stock market.

 

PetroChina began trading in Hong Kong and its American Depository Receipts were listed on the New York Stock Exchange in 2000.

 

Citic Securities Co., UBS Securities Co. and China International Capital Corp. are the main underwriters of the issue.

 

(Xinhua News Agency November 2, 2007)