Victory Giant (02476.HK): IPO to Close Tomorrow; Public Offering Oversubscribed by Over 35x; Cornerstone Investors Commit ~US$997M

NewTimeSpace News: Victory Giant Technology (Huizhou) Co., Ltd. (02476.HK) is conducting its public offering from April 13 to April 16, 2026, with listing scheduled for April 21, 2026. Tomorrow (April 16) marks the closing date of the offering.
According to the prospectus, the offer price is set at HK$209.88 per share. The company is offering a total of 83.34 million shares globally, of which 8.33 million shares are offered under the Hong Kong public offering. Each board lot comprises 100 shares, with an entry fee of approximately HK$21,199.67, and the total offering size is approximately HK$17.287 billion.
Market response has been robust. As of 12:00 noon today, margin subscription funds totalled approximately HK$63.576 billion, representing an oversubscription of approximately 35.34 times relative to the Hong Kong public offering size of HK$1.749 billion.
On the cornerstone front, the offering has secured commitments from a group of high-profile international investors, collectively subscribing for approximately US$997 million worth of shares. The lineup includes CPE Rosewood, Janchor Fund, Yunfeng Capital, MSIP, HHLR, Pinpoint, and Sunshine Life Insurance, among other top-tier institutions.
According to Frost & Sullivan, in terms of revenue from AI and high-performance computing PCBs in the first half of 2025, the company ranked first globally with a market share of 13.8%. It possesses the manufacturing capability for high multilayer PCBs of over 100 layers and is among the world's first companies to achieve mass production of 6-nth 24-layer HDI products. Its products are widely used in high-growth sectors including artificial intelligence, new energy vehicles, and high-speed network communications.

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