SHANGHAI, China: PetroChina Co., the country's biggest oil and gas conglomerate, said Monday it raised 66.8 billion yuan (US$8.94 billion; €6.2 billion) from its initial public offering in Shanghai, making it China's largest domestic IPO so far.
PetroChina priced its 4 billion new yuan-denominated shares at 16.7 yuan (US$2.24; €1.55) each, at the top end of the indicative price range.
The new shares account for 2.18 percent of the state-owned firm's enlarged share capital.
Before PetroChina's IPO, coal producer China Shenhua Energy Co.'s IPO in Shanghai in September was the largest for a domestic exchange, raising 66.58 billion yuan (US$8.91 billion; €6.19 billion).
PetroChina priced its shares at a discount to its Hong Kong-traded shares, which gained 3.2 percent on Monday to HK$19.62 (US$2.52; €1.75).
The company's shares are due to begin trading in Shanghai on Nov. 5.
The benchmark Shanghai Composite Index has more than doubled in value this year as investors have flooded into the market, seeking higher returns than they can earn on bank savings. Most shares of elite state companies like Shenhua and PetroChina have seen at least double-digit gains in their first day of trading following IPOs.