Chinese AI chip startup Shanghai Biren Technology has raised HK$5.58 billion (about $716.85 million) through its IPO in Hong Kong, according to a stock exchange filing.
The company priced each share at HK$19.60, which was the highest price in the planned range, and sold 284.8 million shares in the public offering.
Big investors showed very strong interest in Biren’s IPO. Institutional investors wanted to buy almost 26 times more shares than what were available. Retail investors also showed huge demand, with the offering being oversubscribed about 2,348 times.
Biren is based in Shanghai. Its IPO comes after successful public listings by other Chinese chip companies like Moore Threads and MetaX.
China is pushing to build its own chip industry because of strict U.S. restrictions on advanced semiconductor exports. Biren is part of this effort to create local alternatives.
Biren was founded in 2019. Its co-founders are Zhang Wen, former president of SenseTime, and Jiao Guofang, who earlier worked at Qualcomm and Huawei.
The company gained attention in 2022 when it launched its first products, including the BR100 chip, which Biren said could perform as well as Nvidia’s advanced H100 AI chip.
Hong Kong has had a strong year for IPOs in 2025, raising $36.5 billion from 114 new listings. This is its best performance since 2021 and more than three times the $11.3 billion raised in 2024, according to LSEG data.
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