---
title: "Brief News: The largest IPO fundraising stock since the beginning of the year, VGT, surged on its first day of listing"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283455787.md"
description: "The printed circuit board manufacturer VGT (Huizhou) Co., Ltd. saw a significant increase in its stock price on its first day of listing in Hong Kong, becoming the largest IPO of the year, raising approximately HKD 20 billion. The opening price was HKD 330, up 57% from the issue price, and in the afternoon it reported HKD 311.40, with a market capitalization of about HKD 300 billion. This issuance involved approximately 96 million shares, with 39% allocated to cornerstone investors, and the Hong Kong portion was oversubscribed by 400 times. The company plans to use about three-quarters of the IPO proceeds to expand its manufacturing business. Last year's revenue grew by 80%, and profits increased by about three times"
datetime: "2026-04-21T07:35:57.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283455787.md)
  - [en](https://longbridge.com/en/news/283455787.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283455787.md)
---

# Brief News: The largest IPO fundraising stock since the beginning of the year, VGT, surged on its first day of listing

The stock price of **VGT (Huizhou) Co., Ltd.** (300476.SZ; 2476.HK) surged on its trading debut on Tuesday, raising approximately HKD 20 billion (about USD 2.55 billion), making it the largest IPO in Hong Kong so far this year.

The stock opened at HKD 330, up 57% from the issue price of HKD 209.88, but later retraced some of its gains. In afternoon trading on Tuesday, it was reported at HKD 311.40, up 48% from the IPO price, with a market capitalization of approximately HKD 300 billion. The company issued about 96 million shares, with 39% allocated to around 40 cornerstone investors.

The Hong Kong offering was oversubscribed more than 400 times by local investors, while the international offering was fully subscribed. The company plans to use about three-quarters of the IPO proceeds to expand its manufacturing operations in China.

VGT manufactures printed circuit boards for artificial intelligence, high-performance computing, as well as smart devices and automotive electronics. Last year, its revenue increased from CNY 10.7 billion in 2024 to CNY 19.3 billion, an 80% growth; during the same period, profits rose from CNY 1.15 billion to CNY 4.31 billion, nearly tripling.

_Yang Ge_

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