(Infocast News) Victory Giant Technology (HuiZhou) Co., Ltd. (VGT)(02476), a major supplier of artificial intelligence (AI) and high-performance computing printed circuit board (PCB) products, will start its Hong Kong IPO today. Details of the offering are as follows:
Number of Shares Offered: 83.348 million H shares, of which 75.0132 million shares (90%) — including 7.5013 million shares reserved for Chinese employees — are for international offering, and 8.3348 million shares (10%) — including 833,400 shares reserved for overseas employees — are for Hong Kong public offering. There is also an over-allotment option of up to 15%.
Maximum Offer Price: HK$ 209.88 per share
Estimated Gross Proceeds: HK$ 17.4931 billion
Estimated Net Proceeds: HK$ 17.2866 billion
Use of Proceeds:
(i) approximately 74.0% of the net proceeds, or approximately HK$12,792.1 million, is expected to be used to expand our production in Chinese mainland, including the purchase of smart manufacturing equipment and the further automation of our
manufacturing processes, to further improve production efficiency and expand our market presence;
(ii) approximately 7.0% of the net proceeds, or approximately HK$1,210.1 million, is expected to be used to further diversify our product portfolio by purchasing smart manufacturing equipment for mSAP and other machines to maintain a competitive edge in advanced PCB technologies;
(iii) approximately 9.0% of the net proceeds, or approximately HK$1,555.8 million, is expected to be used for R&D activities to strengthen our core technological capabilities across a range of fields with a focus on advanced products; and
(iv) approximately 10.0% of the net proceeds, or approximately HK$1,728.7 million, is expected to be used for working capital and general corporate purposes.
Cornerstone Investors: (Amount in US$ million):
1.CPE Rosewood Investment Limited – 75.00
2.Janchor Fund – 75.00
3.Yunfeng Capital
- New Alternative Limited – 40.00
New Golden Future Limited – 20.00 4.Deliante Holdings Co., Ltd. – 53.00
5.Mayson Electronics (HK) – 50.00
6.Morgan Stanley – 35.00
7.Foresight Global Superior Choice SPC Sub-Fund – 30.00
8.HHLRA Advisors, Ltd. – 30.00
9.Pinpoint Asset Management Limited – 30.00
10.Sunshine Life Insurance – 30.00
TANWAN (09890) – 30.00 12.Tropical Terrain Limited – 30.00
Yongrong Asset Management – 30.00
Huizhou Huilian Investment Partnership (Limited Partnership) – 28.75
HK Greenwoods Asset Management – 25.00
Bosera International Fund – 20.00
Cloudview Capital Limited – 20.00
China CITIC Bank International Investment – 20.00
Greater Bay Area Common Homeland Investment
- Mega Prime – 12.50
- Poly Platinum – 7.50
Golden K2 Falcon Open-ended Fund Company – 20.00
Infore Capital – 20.00
Metazone Link (HK) under TCL Industries Holdings – 20.00
MY.Alpha Fund – 20.00
Ovata Capital Management Limited – 20.00
SR Wealth Securities Limited – 20.00
Ruihua Investment – 20.00
27.Tianhong Asset Management – 20.00
Ye Guofu, Chairman of MINISO Group (09896) – 20.00
Singularity Asset Management – 15.00
Everbright Wealth Management under China Everbright Bank (06818) – 15.00
Jump Trading – 15.00
Luhua Daosheng (Beijing) Enterprise Management – 15.00
Mirae Asset Securities Co., Ltd. – 15.00
Panjing Fund – 15.00
Wind Sabre Fund SPC – 15.00
Black Dragon AP SPV1 – 10.00
Huaqin Singapore – 10.00
Total Cornerstone Investment: US$ 996.75 million
(approximately HK$ 7.81224 billion) Cornerstone investors are subject to a six-month lock-up period.
Board Lot Size: 100 shares
IPO entry fee: HK$ 21,199.67
Public Offer Period: April 13–12:00 noon, April 16, 2026
Pricing Date: April 17, 2026
Listing Date: April 21, 2026
Joint Sponsors: J.P. Morgan, CSC International, GF Securities
eIPO Services: www.eipo.com.hk and HKEX’s FINI system
(SY)
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