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

The company’s IPO was Hong Kong’s largest this year.

Investor demand stayed strong despite volatility tied to Middle East tensions.

Shares in Victory Giant Technology surged as much as 60% on Tuesday, after the Chinese company’s blockbuster initial public offering — the biggest in Hong Kong this year.

The Chinese corporation, 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.

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’s $3.2 billion IPO in September. This also touches on aspects of dividends.

Investor interest in large listings in Hong Kong has been growing, especially in tech-related sectors, which have remained resilient despite industry volatility tied to the current Middle East conflict.

In the first quarter of 2026, Hong Kong’s IPO marketplace raised HK$109.9 billion across 40 recent listings, according to a KPMG report. That was nearly six times the amount raised and three times the number of fresh listings in the same period last year, KPMG mentioned.

“Nearly 80% of funds raised came from A+H and specialist tech 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.

Other major IPOs on the Hong Kong Stock Exchange so far this year include Chinese chip designer Montage Tech, whose shares surged more than 60% on its trading debut in February. Furthermore, experts in earnings report note the continued relevance.

Shares of China-based AI startup MiniMax Group also doubled on its first day of trading in Hong Kong, becoming the second major Chinese developer of large language models to go public.

On Thursday, shares of Hangzhou-based developer Manycore Tech, the first of Hangzhou’s “six little dragons,” tripled in its Hong Kong debut.

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