Nvidia’s printed circuit board vendor Victory Giant plans to raise funds in Hong Kong IPO

Nvidia supplier Victory Giant Technology (Huizhou) released plans for a Hong Kong share offering after regulators eased fundraising rules to support hi-tech companies.

The company, one of mainland China’s largest printed circuit board manufacturers, said it would sell stock in Hong Kong that would represent no more than 10 per cent of its existing share capital, according to a filing with the Shenzhen Stock Exchange on Wednesday.

Underwriters would be granted the option to issue additional shares in Hong Kong by exercising an overallotment option. The company will allocate a portion of the offering to local retail investors, while the remainder will be available to an international cohort.

Victory Giant was listed on the GEM board in Shenzhen in 2015, with 862.7 million shares outstanding on the onshore market, according to data compiled by Bloomberg. Its shares have surged more than threefold so far this year to 191.2 yuan, giving it a market capitalisation of 162.77 billion yuan (US$22.7 billion).

Factory of Nvidia supplier Victory Giant Technology (Huizhou). Photo: handout
Factory of Nvidia supplier Victory Giant Technology (Huizhou). Photo: handout

On July 21, the company said it would use the listing’s proceeds to expand overseas and “broaden its financing channels”. It said it would select an appropriate time to complete its listing plan.

Source link

Visited 1 times, 1 visit(s) today

Related Article

New head of Hong Kong Hospital Authority pledges to cut wait times, queues

New head of Hong Kong Hospital Authority pledges to cut wait times, queues

The new head of Hong Kong’s public hospitals has pledged to slash waiting times and the number of queues for patients while considering extending the operating hours of general outpatient clinics operated by authorities. Libby Lee Ha-yun, who takes over on Friday as the new chief executive of the Hospital Authority, also said she hoped

1 August 2025
File photo of a woman walking past a McDonald's outlet in Hong Kong

Hong Kong property deals cry for China investment

File photo: A woman walks past a McDonald’s outlet in Hong Kong in this July 25, 2014 file photo. REUTERS/Tyrone Siu/Files Photo. HONG KONG, Aug 1 (Reuters Breakingviews) – Iconic buildings don’t often change hands. Yet a trio of prime commercial properties in Hong Kong is now up for grabs. Each carries a strong connection

1 August 2025
Hong Kong prosecutors drop charge against Indonesian tourist in tumbler case

Hong Kong prosecutors drop charge against Indonesian tourist in tumbler case

Hong Kong prosecutors have dropped a criminal charge against an Indonesian tourist whose tumbler fell out of his backpack and hit another visitor at The Peak last month. Merchant Satnauli Bangun, 44, was initially prosecuted for allegedly allowing an object to fall from a height when he visited The Peak Tower on July 2. The

1 August 2025
Should Hong Kong plug legal gaps to stamp out AI-generated porn?

Should Hong Kong plug legal gaps to stamp out AI-generated porn?

Betrayal was the first thought to cross the mind of a University of Hong Kong (HKU) law student when she found out that a classmate, whom she had considered a friend, had used AI to depict her naked. “I felt a great sense of betrayal and was traumatised by the friendship and all the collective

1 August 2025
Hong Kong airport to reduce late-night flights to south runway over noise

Hong Kong airport to reduce late-night flights to south runway over noise

Hong Kong airport will reduce late-night use of its south runway following noise complaints from Tuen Mun residents struggling to sleep when cargo aircraft pass overhead. The Airport Authority confirmed the measure late on Thursday, hours after a lawmaker revealed its plan to address the complaints that a flight path over Tuen Mun’s Siu Lam

1 August 2025
Many local, mainland Chinese, regional and global players have expressed interest in applying for stablecoin licences. Photo: Shutterstock

HKMA’s strict stablecoin regime to shape Hong Kong’s crypto future

Hong Kong’s stablecoins ordinance, which took effect on Friday, puts cryptocurrency’s most-traded cash substitute under the same regulatory framework as banks, triggering a rush for a limited number of licences from the Hong Kong Monetary Authority (HKMA). Some market observers were caught by surprise after learning that the first batch of stablecoin licences was only

1 August 2025