How much did Shanghai Biren Technology raise in its Hong Kong IPO?

Shanghai Biren Technology raised HK$5.58 billion ($716.85 million) in its Hong Kong IPO.

What was the investor demand for Biren Technology's IPO?

Demand was extremely high, with retail investor portions oversubscribed approximately 2,348 times.

When are Biren Technology's shares expected to debut on the stock exchange?

Biren Technology's shares are expected to debut on Friday.

Home / Business and Economy / China AI Chip Startup Raises $717M in Hong Kong IPO

China AI Chip Startup Raises $717M in Hong Kong IPO

1 Jan

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Summary

Biren Technology raised HK$5.58 billion in its Hong Kong IPO.
Retail investor demand for the IPO was extremely high.
The startup aims to provide domestic alternatives to U.S. chips.

China AI Chip Startup Raises $717M in Hong Kong IPO

Shanghai Biren Technology, an emerging Chinese AI chip startup, has secured HK$5.58 billion ($716.85 million) through its initial public offering on the Hong Kong Stock Exchange. The semiconductor designer set its offer price at HK$19.60 per share, reaching the highest point of its expected range. This successful IPO underscores strong investor confidence in the company's future prospects within the competitive AI chip market.

Investor demand significantly outstripped the shares available. Institutional investors showed nearly 26 times the demand for the shares offered, while the retail investor portion saw an astonishing oversubscription rate of approximately 2,348 times. This overwhelming response from both institutional and individual investors highlights the market's keen interest in Biren's technological ambitions and China's strategic drive for domestic semiconductor innovation.