Stock Track | BIREN TECH Soars 90.20% in Intraday Session on Strong Hong Kong IPO Debut

Stock Track01-02 09:33

BIREN TECH's stock surged 90.20% in the intraday session on Friday, marking a strong debut on the Hong Kong stock exchange. The Chinese AI chip designer opened at HK$35.7, significantly above its offer price of HK$19.60, reflecting robust investor demand.

The IPO was oversubscribed by institutional investors nearly 26 times and retail investors about 2,348 times, raising HK$5.58 billion. BIREN TECH specializes in GPGPU chips and AI computing solutions, with revenue growing at a compound annual rate of 2500% from 2022 to 2024. The company's success is attributed to its innovative products and China's push for domestic semiconductor alternatives amid U.S. export restrictions.

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