Home / Business and Economy / Victory Giant Eyes Hong Kong Listing Over $2 Billion
Victory Giant Eyes Hong Kong Listing Over $2 Billion
9 Mar
Summary
- Victory Giant seeks over $2 billion in Hong Kong IPO.
- Company revenue reached $1.9 billion for nine months last year.
- Shenzhen shares have quadrupled in value over the past year.
Victory Giant Technology (Huizhou) Co., a prominent Chinese producer of printed circuit boards, is gearing up for a significant listing on the Hong Kong Stock Exchange. This offering is anticipated to raise more than $2 billion. The company, which is already publicly traded in Shenzhen, is targeting the second listing to occur as soon as April.
Chinese securities regulators have granted approval for this offering, a move that had been previously sanctioned by Victory Giant's board in July. While deliberations are ongoing and the final deal size and timing could be subject to change, the company has not yet commented on the matter. In the initial nine months of the past year, Victory Giant generated 13.4 billion yuan ($1.9 billion) in revenue from its printed circuit board products, which are essential components for artificial-intelligence servers.
The market sentiment for Hong Kong listings has seen a positive start to the current year. However, global market outlooks are facing uncertainty due to geopolitical events. The Hang Seng Index has experienced a decline of approximately 5% this month.
