Shares of Chinese chip packaging and testing firm Victory Giant Technology (VGT) surged 50% on their first day of trading in Hong Kong on Monday, April 21, 2026. The strong debut followed the company's dual primary listing, which raised approximately $2.6 billion (HK$20.3 billion), making it one of the largest initial public offerings in Hong Kong this year.
The company, already listed on Shanghai's STAR Market, sold 365.6 million new shares in Hong Kong at HK$55.55 each. The offering was significantly oversubscribed, with the retail portion reportedly more than 100 times covered. The funds are intended to expand production capacity and advance research in advanced packaging technologies.
The listing comes amid a push by Chinese semiconductor firms to bolster resilience in the global supply chain. VGT's performance contrasts with a generally subdued IPO market in Hong Kong, highlighting sustained investor interest in China's strategic tech sectors. The stock closed its first session at HK$83.33.
