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ARTICLE: PetroChina tops $1 trillion market cap in debut, By Chris Oliver, MarketWatch, Nov 5, 2007
This valuation has to be based on China's need rather than PetroChina's holdings.
I'm not disagreeing with it per se. I'm just calling a spade a spade.
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Comments (1)
Certainly agree, but since I'm not an economist, I have to ask this: since when does an IPO represent a company's existing holdings? Isn't the whole idea of an IPO to generate capital in order for the company to meet demand on its position and potential, by acquisition and expansion of assets? Isn't it a safe bet that a large chunk of that new capital will go to places where China is still expanding investment, as in SE Asia and Africa, rather than domestic and current holdings?
Posted by Matthew Garcia | November 24, 2007 11:34 AM