By Yantoultra Ngui
SINGAPORE, April 15 (Reuters) - China's Victory Giant is expected to price its Hong Kong share offering at the top of a range at HK$209.88 per share, raising HK$17.5 billion ($2.2 billion), after receiving strong demand from investors, according to two sources with knowledge of the matter.
The company, which makes printed circuit boards for artificial intelligence servers and other electronics, is also expected to exercise an upsize option of up to 15% of the offering, raising the total
proceeds to about HK$20.2 billion, one of the sources said.
They declined to be identified because the information is not yet public. Victory Giant did not immediately respond to a request for comment on Wednesday.
The pricing is expected on Friday, according to the company's prospectus.
If priced at the top end of its range, the deal would signal that investor demand for large Chinese technology listings remains strong despite broader market volatility triggered by the conflict in the Middle East.
Victory Giant's offering is set to be the largest equity offering since the Iran war began in late February and Hong Kong's biggest listing since Zijin Gold's $3.5 billion deal in September, according to Dealogic.
On Wednesday, Huaqin Technology launched a Hong Kong share sale aiming to raise up to HK$4.55 billion, extending a run of sizeable Chinese equity deals in the city.
Victory Giant, which is already listed in Shenzhen and has a market value of $39.6 billion according to LSEG data, launched its offering on Monday, with a plan to sell 83.35 million shares at up to HK$209.88 each, according to its prospectus.
The company is due to start trading on April 21.
($1 = 7.8357 Hong Kong dollars)
(Reporting by Yantoultra Ngui; Editing by Thomas Derpinghaus)
