Biren lists on Hong Kong Stock Exchange with record retail oversubscription

Biren Technology

Shanghai Biren became the first mainland Chinese GPU maker to list on the Hong Kong Stock Exchange, raising HK$5.58 billion (US$717M) at HK$19.60/share. The first-day close of HK$34.46 valued the company at HK$82.6 billion (US$10.6B), a 76% gain. Retail demand reached 2,348x oversubscription, drawing 471,000 investors—a record for Hong Kong IPO retail participation.