Biren Technology Plans to Raise HKD 7 Billion Post-IPO
Chinese chip designer Biren Technology announced plans to raise approximately HKD 7 billion (around USD 900 million) through a share placement. The company went public on the Hong Kong Stock Exchange in January 2026.
Biren Technology, a designer of general-purpose graphics processing unit (GPGPU) chips for artificial intelligence, has announced a share placement aimed at raising approximately HKD 7 billion (around USD 900 million). The funds are intended to accelerate the commercialization and production of its next-generation GPGPU products and support research and development.
The placement involves issuing 153 million new H shares at a price of HKD 46.20 per share. Biren Technology, founded in 2019, was the first company to list on the Hong Kong Stock Exchange in 2026 and the first GPU manufacturer to do so on the exchange.
The company stated that the rapid growth of artificial intelligence and the explosion in "token consumption" have driven strong demand for GPGPU computing solutions. This has expanded its potential market and accelerated the timeline for commercializing its next-generation products beyond initial expectations set at the time of its IPO.
Of the net proceeds, approximately 20% will fund R&D for new technology projects, including talent acquisition and intellectual property development. Around 60% will be allocated to speeding up the commercialization and production of next-generation products, including customer sampling, deployment validation, and optimizing workloads. This also includes developing reference designs for rack-level and "SuperPod" solutions.
The remaining 20% will be used for strategic investments and acquisitions (10%), focusing on technological synergy and business benefits, and for general working capital and corporate purposes (10%).