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【Biren Technology (06082.HK): Places 153 Million New H Shares at HK$46.20 Each; Net Proceeds of Approx. HK$7.038 Billion】Biren Technology is placing 153 million new H shares at HK$46.20 per share, representing a discount of approximately 9.94% to the last closing price. The gross proceeds are approximately HK$7.069 billion with net proceeds of approximately HK$7.038 billion. The placement is conducted under the general mandate without requiring shareholder approval. Net proceeds will be allocated with approximately 20% for cutting-edge R&D, 60% for next-gen product commercialization and production, 10% for strategic investments and acquisitions, and 10% for working capital and general corporate purposes. The company has also agreed to a 90-day lock-up undertaking post-closing.
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BIREN TECH06082.HK