The Victory Giant Technology logo is seen at the Hong Kong Exchange and Clearing Limited (HKEX) in Hong Kong on April 21, 2026.
Peter Parkes | AFP | Getty Images
share in Victory Giant Technology Shares soared as much as 60% on Tuesday following the Chinese company’s blockbuster initial public offering, Hong Kong’s biggest this year.
The Chinese company, which supplies printed circuit boards to Nvidia, valued its shares at HK$209.88 in its IPO. The stock last traded at HK$306.8, up 46%.
Victory Giant raised about HK$20.1 billion ($2.57 billion) in about seven months in the city’s largest listing. This makes it the largest IPO in Victory Giant’s history in Hong Kong. Shikin Gold Internationalhad a $3.2 billion IPO in September.
Investor interest in large Hong Kong listings is growing, especially in the tech-related sector, which has remained resilient despite market volatility associated with the current Middle East conflict.
In the first quarter of 2026, Hong Kong’s IPO market raised HK$109.9 billion with 40 new listings, according to a KPMG report. According to KPMG, this is nearly six times the amount raised in the same period last year and three times the number of new listings.
“Nearly 80% of the funds raised came from A+H and professional technology listed companies. Both sectors are expected to continue to support strong IPO performance this year,” it added, referring to companies listed in both mainland China and Hong Kong.
Other major IPOs on the Hong Kong Stock Exchange so far this year include Chinese chip design company Montage Technology, whose shares rose more than 60% in their trading debut in February.
China-based AI startup stock price mini max group also doubled on its first day of trading in Hong Kong, making it the second major Chinese developer to list a large language model.
On Thursday, the stock price of Hangzhou-based development company Manycore Tech, the first of Hangzhou’s “six little dragons”, tripled in its Hong Kong debut.
