Latest news with #ShenzhenStockExchange
South China Morning Post
30-07-2025
- Business
- South China Morning Post
Nvidia supplier Victory Giant unveils plans for Hong Kong share offering
The company, one of mainland China's largest printed circuit board manufacturers, said it would sell stock in Hong Kong that would represent no more than 10 per cent of its existing share capital, according to a filing with the Shenzhen Stock Exchange on Wednesday. Underwriters would be granted the option to issue additional shares in Hong Kong by exercising an overallotment option. The company will allocate a portion of the offering to local retail investors, while the remainder will be available to an international cohort. Victory Giant was listed on the GEM board in Shenzhen in 2015, with 862.7 million shares traded on the onshore market, according to data compiled by Bloomberg. Its shares have surged more than threefold so far this year to 191.2 yuan, giving it a market capitalisation of 162.77 billion yuan (US$22.7 billion). On July 21, the company said it would use the listing's proceeds to expand overseas and 'broaden its financing channels'. It said it would select an appropriate time to complete its listing plan. The company has not disclosed the size or timing of its share sale, but Bloomberg reported earlier this month that its listing could raise about US$1 billion. The company hired Hong Kong-based BDO as its auditor.
Yahoo
21-07-2025
- Business
- Yahoo
Circuit-Board Maker Victory Giant Is Said to Consider Hong Kong Listing
(Bloomberg) -- Victory Giant Technology (Huizhou) Co. is considering a listing in Hong Kong that could raise about $1 billion, according to people familiar with the situation. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The maker of printed circuit boards is working with advisers on a potential second share sale that may take place as soon as this year, the people said, asking not to be identified because the information is private. Considerations are preliminary and details such as the size and timing of an offering could change, the people added. 'The company is currently in discussions with relevant intermediaries regarding its proposed H-share issuance and listing,' Victory Giant Technology said in a filing to the Shenzhen stock exchange after the Bloomberg News report. Details have not been finalized yet, the company added. Founded in 2006, Victory Giant Technology has traded on the Shenzhen stock exchange for about a decade. Its shares are up 270% this year, giving the company a market capitalization of about 134 billion yuan ($19 billion). Companies listed on mainland Chinese exchanges have been flocking to Hong Kong for fundraising, helping to drive a sixfold increase in share sales in the city in the first half of the year. With Chinese regulators signaling support for the moves, so-called A-H listings accounted for the majority of Hong Kong's proceeds from first-time share sales in the six months through June. Victory Giant Technology's first-quarter net income surged 339% from a year earlier to 921 million yuan, boosted by the artificial intelligence boom. --With assistance from Dong Cao. (Adds comment from Victory Giant in fourth paragraph) A Rebel Army Is Building a Rare-Earth Empire on China's Border Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
21-07-2025
- Business
- Yahoo
Circuit-Board Maker Victory Giant Is Said to Consider Hong Kong Listing
(Bloomberg) -- Victory Giant Technology (Huizhou) Co. is considering a listing in Hong Kong that could raise about $1 billion, according to people familiar with the situation. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom How San Jose's Mayor Is Working to Build an AI Capital The maker of printed circuit boards is working with advisers on a potential second share sale that may take place as soon as this year, the people said, asking not to be identified because the information is private. Considerations are preliminary and details such as the size and timing of an offering could change, the people added. Victory Giant Technology didn't respond to requests for comment. Founded in 2006, Victory Giant Technology has traded on the Shenzhen stock exchange for about a decade. Its shares are up 270% this year, giving the company a market capitalization of about 134 billion yuan ($19 billion). Companies listed on mainland Chinese exchanges have been flocking to Hong Kong for fundraising, helping to drive a sixfold increase in share sales in the city in the first half of the year. With Chinese regulators signaling support for the moves, so-called A-H listings accounted for the majority of Hong Kong's proceeds from first-time share sales in the six months through June. Victory Giant Technology's first-quarter net income surged 339% from a year earlier to 921 million yuan, boosted by the artificial intelligence boom. --With assistance from Dong Cao. A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot Elon Musk's Empire Is Creaking Under the Strain of Elon Musk How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Sign in to access your portfolio
Nikkei Asia
09-07-2025
- Business
- Nikkei Asia
Apple supplier Lens Tech opens 4% up on first Hong Kong trading day
Markets Chinese company raises $608mn to fund overseas expansion amid US tariff pressure Lens Technology and Beijing Geekplus were among a number of companies that listed in Hong Kong on July 9. (Photo by Peggy Ye) PEGGY YE HONG KONG -- Apple supplier Lens Technology announced it has raised 4.77 billion Hong Kong dollars ($608 million) in a share listing in Hong Kong, as the Chinese company looks to expand overseas and reduce its exposure to U.S.-China trade tensions. Shares in the company, which makes iPhone cover glass and metal casings, opened 4% above its offer price of HK$18.18. That represents a 27% discount compared to its closing price on the Shenzhen Stock Exchange the previous day.
Business Times
08-07-2025
- Business
- Business Times
Shenzhen bourse nudges China firms to speed up IPO applications
[BEIJING] China's Shenzhen Stock Exchange has urged brokers to speed up applications for companies to list on the ChiNext board as officials seek to boost private enterprise and reignite the economy under threat from rising tariffs. The exchange, China's second largest after Shanghai, called in a dozen investment banks to a meeting last month to get them to quicken the pace of applications for companies seeking to sell shares on the tech board, according to sources familiar with the matter. At the meeting, the bourse indicated it would expedite the approval process and loosen some requirements, the sources said, asking not to be identified discussing private information. The regulator aims to ensure that all enterprises that have submitted applications can receive a review and feedback this year, the sources said. After a years-long clampdown on share sales and tighter scrutiny of private enterprises, Beijing has shifted its stance as economic challenges, including a trade war, have mounted. Earlier this year, President Xi Jinping presided over a meeting with key entrepreneurs including Alibaba Group Holding co-founder Jack Ma, underscoring a softer stance. At a forum last month, China Securities Regulatory Commission chairman Wu Qing said that China will accelerate the development of a capital market better suited to supporting technological innovation and more actively cultivate long-term capital for the market. Regulators are also seeking to stoke share sales on the mainland, as listings from Chinese firms have surged in Hong Kong. The Shenzhen exchange late last month also published rules to make it easier for technology firms already listed on the ChiNext board to raise funds to improve their ability to innovate. The exchange did not immediately respond to an emailed request for a comment. China's stock exchanges in Shanghai, Shenzhen and Beijing accepted 150 new applications for initial public offering (IPO) in June, the highest monthly tally this year. The majority was accepted by Beijing, according to exchange data. Listings in Hong Kong hit the highest since December 2022 last month, as a rally in the Asian financial hub's stocks drove a rush for share sales. Listings in China plunged for three straight years, reaching 222 billion yuan last year, down from 1.24 trillion yuan in 2021, according to data compiled by Bloomberg. So far this year, China has seen 114 billion yuan in listings. BLOOMBERG
