China AI chip firm Biren raises $717 million in Hong Kong IPO

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Chinese AI chip startup Shanghai Biren Technology ‍has raised HK$5.58 billion ($716.85 million) in its Hong Kong initial ⁠public offering, according to an exchange filing on Wednesday.

The semiconductor designer set the offer price at HK$19.60 apiece, the ‌top end ‌of the marketed range. It offered 284.8 million shares in the ‌IPO.

Institutional investor demand for Biren’s IPO was nearly 26 times the shares on offer, while the retail tranche was oversubscribed about 2,348 times, the filing showed.

Shanghai-based Biren’s IPO follows successful…



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China AI chip firm Biren raises $717 million in Hong Kong IPO



Chinese AI chip startup Shanghai Biren Technology ‍has raised HK$5.58 billion ($716.85 million) in its Hong Kong initial ⁠public offering, according to an exchange filing on Wednesday.

The semiconductor designer set the offer price at HK$19.60 apiece, the ‌top end ‌of the marketed range. It offered 284.8 million shares in the ‌IPO.

Institutional investor demand for Biren’s IPO was nearly 26 times the shares on offer, while the retail tranche was oversubscribed about 2,348 times, the filing showed.

Shanghai-based Biren’s IPO follows successful…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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