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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.
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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.
