The Chinese company, which supplies printed circuit boards to Nvidia, priced its shares at 209.88 Hong Kong dollars in the IPO. Shares were last trading 46% higher at HK$306.8.<\/p>\n
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<\/a>‘s $3.2 billion IPO in September.<\/p>\n Stock Chart IconStock chart icon Investor interest in large listings in Hong Kong has been growing, especially in tech-related sectors, which have remained resilient despite market volatility tied to the current Middle East conflict.<\/p>\n In the first quarter of 2026, Hong Kong’s IPO market raised HK$109.9 billion across 40 new listings, according to a KPMG\u00a0report<\/a>. That was nearly six times the amount raised and three times the number of new listings in the same period last year, KPMG said. <\/p>\n “Nearly 80% of funds raised came from A+H and specialist technology listings; both segments are expected to continue supporting strong IPO performance this year,” it added, referring to companies listed in both mainland China and Hong Kong.<\/p>\n Other major IPOs on the Hong Kong Stock Exchange so far this year include Chinese chip designer Montage Technology, whose shares\u00a0surged<\/a> more than 60% on its trading debut in February.<\/p>\n Shares of China-based AI startup MiniMax Group<\/a> also doubled<\/a> on its first day of trading in Hong Kong, becoming the second major Chinese developer of large language models to go public.<\/p>\n On Thursday, shares of Hangzhou-based developer Manycore Tech, the first of Hangzhou’s “six little dragons,” tripled<\/a> in its Hong Kong debut.<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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