HONG KONG -- Shares of Chinese state-owned oil company CNOOC rose by the maximum allowed 44% in early trading during its debut on the Shanghai Stock Exchange on Thursday.
Following its 28.08 billion yuan ($4.38 billion) stock sale at 10.80 yuan a share, CNOOC began trade 20% higher at 12.96 yuan. Within moments, shares hit 15.55 yuan, triggering a 30-minute exchange halt.
