Victory Giant Surges 57% in HK’s Largest IPO, Fueled by Nvidia

Victory Giant Technology surged 57.2% during its Hong Kong trading debut on Tuesday. The Chinese printed circuit board maker raised approximately HK$20 billion (US$2.6 billion) in the city’s largest initial public offering this year.

The company priced its shares at the top of the range at HK$209.88. This valuation followed heavy investor demand for the firm, which serves as a key supplier to U.S. chipmaker Nvidia.

Victory Giant manufactures high-density interconnect PCBs used in AI servers and graphics cards. The retail portion of the IPO was oversubscribed more than 431 times.