Victory Giant Technology has opened investor orders for a secondary listing in Hong Kong. The company aims to raise up to HK$17.5 billion ($2.2 billion) in one of the city's largest share sales this year. The listing is scheduled for April 21.
The manufacturer was valued at $37 billion as of April 10. As a key partner for Nvidia, the firm produces printed circuit boards for AI servers. Surging demand for AI components has driven the company's Shenzhen-listed shares higher over the past year.
Cornerstone investors have reportedly committed nearly $1 billion to the offering. Victory Giant will use the proceeds to expand its production capacity.