Shares in Victory Giant Technology surged as much as 60% on Tuesday, after the Chinese company’s blockbuster initial public offering — the biggest in Hong Kong this year.
The Chinese company, which supplies printed circuit board to Nvidia, priced its shares at 209.88 Hong Kong dollars in the IPO. Shares were last trading 46% higher at HK$306.8.
Victory Giant had raised about HK$20.1 billion ($2.57 billion) in the city’s biggest listing in about seven months. This makes Victory Giant Hong Kong’s biggest IPO since Zijin Gold International’s $3.2 billion IPO in September.
Investor interest in large listings in Hong Kong has been growing, especially in tech-related sectors which have been resilient even amidst market volatility amid the current Middle East conflict.
Last Thursday, shares of Hangzhou-based developer Manycore Tech tripled in their Hong Kong debut.
