Shanghai Biren Technology Shares Surge 80% on Debut, Raising $717 Million
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 02 2026- Impressive Debut Performance: Shanghai Biren Technology's shares surged nearly 80% on their first trading day, closing at HK$34.46, which is 77.5% above the IPO price of HK$19.60, indicating strong market demand and marking one of the largest debuts in Hong Kong since 2021.
- Substantial Fundraising: The IPO raised $717 million, with the retail portion subscribed over 2,300 times, reflecting the intense interest in AI-related stocks in Hong Kong and further fueling investment momentum in this sector.
- Significant Industry Impact: Biren's successful listing sets a benchmark for upcoming AI-related companies like MiniMax and Knowledge Atlas Technology, potentially attracting more investor attention to this emerging market.
- Support for R&D Funding: Biren stated that proceeds from the IPO will fund research and development for its computing products, despite reporting a net loss of 1.6 billion yuan in the first half of the year, demonstrating a commitment to future growth through technological innovation.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
