Victory Giant Soars 60% in Hong Kong Debut Amid AI Infrastructure Demand
Victory Giant Technology's stock surged 60% on its first trading day in Hong Kong, reflecting strong investor interest in AI-related infrastructure. The company raised HK$20.1 billion ($2.6 billion) in its largest listing in the city in seven months, indicating robust demand despite global market uncertainties.
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Victory Giant Technology, listed in Shenzhen, achieved a 60% increase in its stock price during its Hong Kong debut, opening at HK$336.2 after an initial pricing of HK$209.88. The company's strong performance highlights investor appetite for AI infrastructure amidst ongoing global market volatility.
It raised HK$20.1 billion ($2.6 billion) through its listing, with retail subscriptions oversubscribed by 431.15 times. The company reported a projected revenue increase of 80% to 19.3 billion yuan for 2025, indicating a solid financial background for its IPO.
Nearly 75% of the funds raised will be allocated to production expansion in China, suggesting a focus on scaling existing operations rather than speculative ventures. This debut underscores resilient demand for AI-related listings in Hong Kong.
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