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

Shares of Victory Giant Technology soared as much as 60% on Tuesday following the Chinese company’s blockbuster initial public offering, the largest in Hong Kong this year.

The Chinese company, which supplies printed circuit boards to Nvidia, priced its shares at 209.88 Hong Kong dollars in the IPO. The shares were last traded at HK$306.8, up 46%.

Victory Giant has raised nearly HK$20.1 billion ($2.57 billion) in about seven months on the city’s biggest listing. This is Victory Giant Hong Kong’s largest IPO since Zijin Gold International’s $3.2 billion IPO in September.

Investor interest in major IPOs in Hong Kong is growing, particularly in technology-related sectors that have remained resilient despite market volatility amid the current Middle East conflict.

Last Thursday, shares of Hangzhou-based developer Manycore Tech tripled on its Hong Kong debut.