Financial Wire

Victory Giant Technology Seeks Up to HK$17.5 Billion in Hong Kong IPO

-- Victory Giant Technology (HKG:2476, SHE:300476) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$17.5 billion from the deal.

The China-based printed circuit board manufacturer is offering 83.3 million H-shares at a maximum price of HK$209.88 per share, according to a Hong Kong bourse filing.

The offering comprises 8.3 million shares for Hong Kong investors and 75 million shares for international investors, subject to reallocation, the offer size adjustment option, and the overallotment option.

The offer price is expected to be determined by April 17, with allocation results due by April 20, ahead of the company's planned trading debut on April 21.

Net proceeds will be used mainly to expand production capacity in mainland China, including investments in smart manufacturing equipment and automation to improve efficiency and market reach.

The funds will also support product diversification in advanced PCB technologies, research and development, and provide for working capital and general corporate purposes.

J.P. Morgan Securities (Far East), China Securities (International) Corporate Finance, and GF Capital (Hong Kong) are acting as joint sponsors.

J.P. Morgan Securities (Asia Pacific), China Securities (International) Corporate Finance, and GF Securities (Hong Kong) Brokerage are serving as sponsor-overall coordinators, overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.

ABCI Capital and China International Capital Corporation Hong Kong Securities are also acting as joint global coordinators, joint bookrunners, and joint lead managers, while Huatai Financial Holdings (Hong Kong) is serving as a joint lead manager.

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