BIREN TECH (06082.HK): places 130m new H shares at HKD 31.08 each

NewTimeSpace News: On 8 October 2026, Shanghai Biren Technology Co., Ltd. (stock code: 06082) announced that the Company and the Placing Agents entered into the Placing Agreement, pursuant to which the Placing Agents have agreed to procure, on a best effort basis, not less than six Placees to purchase 130,000,000 new H Shares at the Placing Price of HKD31.08 per H Share. The Placing Shares represent approximately 9.54% of the H Shares in issue and approximately 5.00% of the total number of Shares in issue, and approximately 8.71% of the H Shares and approximately 4.76% of the total number of Shares in issue as enlarged by the allotment and issuance of the Placing Shares.

According to the announcement, the Placing Price represents a discount of approximately 9.76% to the closing price of HKD34.44 per H Share on the Last Trading Date (7 October 2026) and approximately 13.73% to the average closing price of approximately HKD36.03 per H Share over the last five consecutive trading days; the net issue price per Placing Share is approximately HKD30.92. Assuming all the Placing Shares are fully placed, the gross and net proceeds are expected to be approximately HKD4,040.4 million and HKD4,019.7 million respectively, of which approximately 70.0% will be used for strategic supply chain procurement, production preparation and commercialisation of the Company's next-generation products, approximately 20.0% for enhancing R&D capabilities and the software ecosystem and approximately 10.0% for working capital and general corporate purposes.

According to the announcement, the Placing Shares will be allotted and issued under the general mandate granted to the Board by a resolution passed by the Shareholders on 15 June 2026, and no Shareholders' approval is required. The Company is a leading PRC supplier of AI general-purpose graphics processing units (GPGPUs) and full-stack computing solutions; its next-generation products have completed power-on testing and entered the post-tape-out verification stage, progressing faster than expected at the time of the Previous Placing, and the Company has advanced commercialisation preparation and formulated large-scale production plans. CICC and UBS act as the overall coordinators and placing agents.

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