A Chinese electronics manufacturer is poised to complete one of the year’s largest stock offerings after attracting robust investor interest in Hong Kong markets.
Victory Giant, which produces circuit boards for artificial intelligence servers and electronic devices, is anticipated to set its share price at HK$209.88 each – the highest point of its proposed range – according to two informed sources. This pricing would generate approximately HK$17.5 billion, equivalent to $2.2 billion.
The circuit board maker may also activate an additional option to increase the offering by up to 15%, potentially bringing total fundraising to roughly HK$20.2 billion, one source indicated. Both sources requested anonymity as the details have not been publicly disclosed. Victory Giant has not yet responded to requests for comment.
The final pricing announcement is scheduled for Friday, based on the company’s official prospectus documents.
Should the offering price at its upper limit, the transaction would demonstrate that investor appetite for major Chinese technology companies remains robust, even amid market turbulence caused by Middle Eastern conflicts.
This stock sale represents the largest equity offering since hostilities began in Iran during late February and marks Hong Kong’s most significant listing since Zijin Gold’s $3.5 billion transaction in September, according to financial data firm Dealogic.
Meanwhile, another Chinese company, Huaqin Technology, initiated its own Hong Kong share sale on Wednesday, seeking to raise up to HK$4.55 billion and continuing the trend of substantial Chinese equity transactions in the territory.
Victory Giant currently trades on the Shenzhen exchange with a market capitalization of $39.6 billion, according to LSEG information. The company launched its Hong Kong offering Monday, planning to sell 83.35 million shares at prices reaching HK$209.88 per share, prospectus documents show.
Trading of the new Hong Kong shares is scheduled to commence April 21.
