STOCKS | Biren Technology Places 153 Million New H Shares at HK$46.2, Raising HK$7.07 Billion

Biren Technology (6082), one of China’s “four little dragons” in domestic GPUs and a recent Hong Kong listing, placed 153 million new H shares at HK$46.2 each, a 9.94% discount to the July 3 H-share close of HK$51.3, according to Ming Pao. The placement raised HK$7.0686 billion in gross proceeds and HK$7.0376 billion net. Ming Pao said the fundraising size is larger than the HK$5.58 billion the company raised from its Hong Kong IPO earlier this year.