Shanghai-based Biren Technology, listed in Hong Kong under stock code 6082, is seeking to raise about HK$4.04 billion, or $515 million, to support its artificial intelligence business, according to Bloomberg. The company plans to place 130 million new shares at HK$31.08 each, based on a filing with Hong Kong Exchanges and Clearing. Bloomberg said the placement price represents a discount of nearly 10% to Wednesday’s closing price. The report also described Biren as one of a group of GPU developers backed by Beijing, and said the fundraising comes as part of a broader financing wave among Chinese artificial intelligence companies.
Shanghai-based Biren Technology, listed in Hong Kong under stock code 6082, plans to raise about HK$4.04 billion, or $515 million, to support its artificial intelligence business, according to Bloomberg.
The company intends to place 130 million new shares at HK$31.08 apiece, based on a filing with Hong Kong Exchanges and Clearing. Bloomberg said the placement price is nearly 10% below Wednesday’s closing price.
Bloomberg also described Biren as one of a group of GPU developers backed by Beijing. The fundraising, the report said, is part of a broader wave of financing activity among Chinese artificial intelligence companies.
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