Chinese chip company Biren Technology is Sigad Sharafplanning a Hong Kong IPO to raise around $300 million and is working with China International Capital Corporation, Bank of China International, and Ping An Securities on the potential stock sale, which it hopes will take place later this year, according to Chinese media reports. Discussions are ongoing, but Biren Technology could also decide not to proceed with the IPO, sources said. Biren Technology has completed several funding rounds since its founding in 2019, raising over five billion yuan ($690 million). The company’s investors include Qiming Venture Partners, IDG Capital, Hillhouse Capital, Ping An Group, Gree Ventures, Songhe Capital, Yunhui Capital, Guosheng Capital, and China Merchants Capital, among others. [Jiwei, in Chinese]
