(Jan 2): Shanghai Biren Technology Co, an artificial intelligence (AI) chip designer, was set to begin trading in Hong Kong on Friday after its initial public offering (IPO) raised US$717 million (RM2.91 billion) in one of the market’s hottest sectors. The firm’s shares surged in Hong Kong’s grey market on Wednesday ahead of the official debut. Demand for the IPO was strong, with the stock priced at HK$19.60 (RM10.21) — the top of an indicative range, according to a filing. Founded in 2019 by Zhang Wen, former president of SenseTime Group Inc, Biren has been gaining traction among major Chinese firms. In its prospectus, Biren said that proceeds from the offering will be used towards research and development of its computing solutions.

Source: The Edge Markets January 02, 2026 01:27 UTC