Victory Giant Technology Shares Surge in Landmark Hong Kong IPO

Victory Giant Technology experienced a blockbuster debut in Hong Kong on Tuesday, with shares spiking as much as 60% following its initial public offering. The company, a key supplier of printed circuit boards to AI leader Nvidia, saw its stock trade at HK$306.8, representing a 46% increase over its initial offering price. The IPO raised roughly HK$20.1 billion ($2.57 billion), establishing it as the largest listing in Hong Kong in approximately seven months. This successful debut follows a trend of renewed investor appetite for technology-focused listings in the region, even as geopolitical tensions in the Middle East continue to create broader market volatility. Victory Giant priced its shares at HK$209.88. The scale of the offering makes it the most significant Hong Kong IPO since the $3.2 billion listing of Zijin Gold International in September. The surge reflects strong demand for companies integrated into the artificial intelligence hardware supply chain. This momentum is further evidenced by other recent tech debuts, such as Hangzhou-based Manycore Tech, which saw its shares triple during its own Hong Kong debut last Thursday.