Biren Technology Taps Investors Again for a $515 Million Share Sale
5 Articles
5 Articles
AI Chipmaker Biren Taps Market Again in $515 Million Share Sale
Shanghai Biren Technology Co. aims to raise HK$4.04 billion ($515 million) in another share sale to help bankroll its artificial intelligence ambitions, adding to the fundraising spree from Chinese AI companies.
Mario Romero.- Not all Chinese technology companies stand out for innovation and good revenues, despite the growing demand for AI chips and the undeniable advances in this section, because in some cases, if the company cannot be managed in the long term, it can face severe flow problems or resort to injection [...] The post chip manufacturer Biren Technology competitor of Huawei and Xiaomi seeks to obtain resources of US$500 million to continue …
The Chinese manufacturer of artificial intelligence chips plans to issue 130 million shares to raise HKD 4 billion. The announcement hit their titles in Hong Kong, which closed with a fall of 11.9%.
Biren Technology taps investors again for a $515 million share sale
Shanghai Biren Technology will place 130 million new H-shares at HK$31.08 each, raising about HK$4.04 billion, roughly $515 million, with no shareholder vote required. It is Biren's third capital raise since its January IPO, following a July placement that raised about $892.5 million.
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