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2w ago

Victory Giant Soars 50% in Hong Kong Debut After $2.6 Billion IPO

The jump signals strong demand for companies feeding China’s AI hardware supply chain.

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Shares in the Guangdong-based Victory Giant Technology Huizhou jumped nearly 60 percent in early trade

Overview

  • Victory Giant shares jumped on their Hong Kong debut Tuesday, closing 50% higher at HK$315 after opening at HK$330 against a HK$209.88 offer price.
  • The IPO raised about HK$20.1 billion, the city's largest listing so far this year, after retail orders swamped the offer at 431 times the shares available.
  • Cornerstone investors including CPE Rosewood, Janchor Fund and Jack Ma-backed Yunfeng Capital committed about US$997 million to the deal.
  • The company, a supplier to Nvidia and a top seller of printed circuit boards for AI and high-performance computing, reported a 13.8% global market share in the first half of 2025.
  • Nearly three-quarters of the funds will go to expanding factories in mainland China, reinforcing a broader push to build domestic AI hardware capacity as more AI-linked listings come to market in Hong Kong.