Shanghai Biren Technology hits 9-week low on discounted share sale

Shanghai Biren Technology

08/10/2026 04:54

** Shares of Shanghai Biren Technology 6082.HK drop 9% to HK$31.34, their lowest level since August 3
** Stock set for the biggest one-day pct fall since August 19 
** Chinese AI chip designer plans sale of 130 million new H shares, or 4.76% of the enlarged share capital, in share placement, raising HK$4.04 billion ($514.83 million) for strategic supply-chain procurement and to enhance R&D capabilities
** Says the new shares will be issued at HK$31.08 each, representing a 9.76% discount to Wednesday's close of HK$34.44
** Since debut on January 2, stock up 61.1% from the offer price of HK$19.60 apiece
** YTD, Hang Seng TECH Index .HSTECH down 25.4%


($1 = 7.8473 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))