BlackRock Joins $2.6B Victory Giant IPO as Cornerstone Investor
BlackRock allocated a portion of the HK$2.6 billion IPO of Victory Giant Huizhou Co. as a cornerstone investor, joining 36 others in a guaranteed HK$997 million share tranche locked in for six months. The AI-focused PCB supplier’s shares jumped 50% in the Hong Kong debut on a HK$209.88 listing price.
1. BlackRock's Cornerstone Participation
BlackRock participated as a cornerstone investor in Victory Giant Huizhou Co.'s HK$2.6 billion IPO, joining 36 other investors to secure HK$997 million worth of shares at HK$209.88 apiece. These shares will be subject to a six-month lock-up period, ensuring allocation stability for the stock's trading debut.
2. Strategic AI Exposure
The investment gives BlackRock exposure to high-density interconnect PCB technology that underpins AI server hardware, aligning with its broader push into semiconductor and artificial intelligence sectors. Victory Giant’s 50% surge on listing day and analysts’ forecast of 70% revenue growth in 2026 underscore the potential upside for long-term investors.