China's Victory Giant Technology soars nearly 60 percent in gray market, indicating gain of HK$12,000 per lot

China's Victory Giant Technology (HuiZhou) jumped nearly 60 percent in the gray market on Monday, ahead of its Tuesday debut.

The printed circuit board maker’s shares were traded at HK$334 apiece on Futu’s over-the-counter platform, up by 59 percent from its offer price of HK$209.88, the top end of its indicative range. 

That translates to a paper gain of HK$12,412 per board lot of 100 shares. 

The company is selling 83.35 million shares for up to HK$17.5 billion, the biggest IPO in Hong Kong since September.