China AI chipmaker Biren’s IPO retail tranche oversubscribed over 11 times

Chinese artificial intelligence chipmaker Shanghai Biren Technology began retail book building for its Hong Kong initial public offering on Monday, drawing about HK$3.11 billion in margin financing and oversubscribing its retail tranche by around 11.8 times.

The company is scheduled to debut on January 2, becoming Hong Kong’s first IPO of 2026 and the market’s first listed graphics processing unit-focused company.

Biren plans to offer 250 million shares globally, with 5 percent allocated to Hong Kong’s retail market. Shares are priced between HK$17 and HK$19.60, aiming to raise up to HK$4.85 billion. The minimum investment is about HK$3,959.50 per board lot of 200 shares.

The firm develops general-purpose graphics processing unit chips and GPGPU-based intelligent computing solutions that provide the core computing power required for artificial intelligence.