Nvidia supplier Victory Giant shares skyrocket 60% on Hong Kong debut
Victory Giant successfully raised about HK$20.1 billion
Shares of Victory Giant Technology skyrocketed by up to 60% on Tuesday following the impressive initial public offering by the Chinese company — marking the largest IPO in Hong Kong this year.
The Chinese firm, known for supplying printed circuit boards to Nvidia, set its IPO share price at 209.88 Hong Kong dollars.
Shares recently traded 46% higher, reaching HK$306.8.
Victory Giant successfully raised about HK$20.1 billion ($2.57 billion) in what stands as the city's largest listing in approximately seven months.
This makes Victory Giant the biggest IPO in Hong Kong since Zijin Gold International's $3.2 billion IPO in September.
Investor enthusiasm for significant listings in Hong Kong has been on the rise, especially in technology-related sectors that have shown resilience despite the ongoing market fluctuations linked to the Middle East turmoil.
On the preceding Thursday, shares of Hangzhou-based developer Manycore Tech experienced a threefold increase during their Hong Kong market debut.