Biren Technology Raises About HK$4.04B in Share Placement; Next-Gen Chip in Post-Silicon Validation
Chinese GPGPU maker Biren Technology (06082.HK) announced on October 8 that it had signed a placement agreement with agents CICC and UBS to issue 130 million new H shares at HK$31.08 each — a discount of about 9.76% to the October 7 close of HK$34.44 — raising roughly HK$4.04 billion gross and about HK$4.02 billion net.
The company said about 70% of proceeds will fund strategic supply-chain procurement, production readiness and commercialization for its next-generation products; about 20% will go to R&D and its software ecosystem; and about 10% to working capital and general corporate purposes. The announcement also said the next-generation product has completed bring-up testing and entered post-silicon validation, ahead of the schedule expected at the last placement, with customer sampling and mass production planned over the coming quarters.
Biren was founded by Zhang Wen in 2019 and listed in Hong Kong on January 2, 2026; a July placement raised about HK$7.04 billion net. After the new placement was announced, Biren shares fell 11.85% on October 9 to close at HK$30.36. (GSM, based on the company announcement and China Economic Net)
Published by GSM · USA (original Chinese edition)
Photo: 图：香港交易所大楼。图片来源：Wikimedia Commons（CC BY-SA 4.0）。Photo: The Hong Kong Stock Exchange building. Source: Wikimedia Commons (CC BY-SA 4.0).
