Nvidia supplier Victory Giant sees shares soar 60% in Hong Kong debut

Victory Giant Technology experienced a remarkable debut on the Hong Kong stock exchange, with shares climbing as much as 60% on Tuesday. This surge followed the company's significant initial public offering, marking it as the largest in Hong Kong for the year. The firm, a key supplier of printed circuit boards to Nvidia, set its IPO price at 209.88 Hong Kong dollars. By the end of trading, shares were reported at a striking HK$306.8, reflecting a gain of 46% from the issue price. Victory Giant successfully raised approximately HK$20.1 billion (around $2.57 billion), making it Hong Kong's largest IPO in nearly seven months. This positioning places Victory Giant alongside Zijin Gold International, which held the previous record with a $3.2 billion IPO in September. The enthusiasm among investors for substantial listings in Hong Kong appears to be on the rise, particularly within the technology sector. This trend comes despite ongoing market fluctuations, exacerbated by the current conflict in the Middle East. Notably, last Thursday, shares of Manycore Tech, a developer based in Hangzhou, saw a threefold increase during its own Hong Kong debut.