Biren Tech Raises HK$4bn Despite HK$9bn Unused, Stock Falls 12%
What happened
Biren Technology priced 130 million new H-shares at HK$31.08 per share to raise HK$4.04 billion, and the stock fell 11.85% on the day. The company still has about HK$9 billion in unused funds from prior raises (HK$7 billion raised in July with only 14% utilized as of September 30, and HK$5.38 billion from its January IPO with 45% utilized), yet is seeking fresh equity at a 13.73% discount to the five-day average. About 70% of the new proceeds target strategic supply chain procurement—pre-ordering HBM memory, reserving wafer capacity and building inventory buffers—driven by an extreme HBM shortage with 52-70 week lead times. The move signals the company's urgency to secure critical components amid supply constraints, even as investors punished the stock for the discount placement despite the company's ample cash position.
Written by AI from the reports · updated 2 h ago
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- TMTPost (钛媒体)Biren Technology raises HK$4bn via H-share placement despite HK$9bn cash on hand
Biren Technology priced 130 million new H-shares at HK$4.04 billion, down 11.85% on the day. The company still has HK$9 billion unused from prior raises (HK$7 billion from July and HK$3 billion from January IPO), yet is seeking fresh equity. About 70% of the new raise targets strategic supply chain procurement—pre-ordering HBM, reserving wafer capacity, building inventory buffers—driven by.extreme HBM shortage and 52-70 week lead times. 壁仞科技再募40亿港元，账上仍有90亿未动用 壁仞科技以每股31.08港元配售1.3亿股新H股，募资40.4亿港元，股价当日下跌11.85%。公司目前账上仍有约90亿港元未动用（7月募资70亿仅用14%，1月IPO募资53.75亿仅用45%），却再度折价9.76%融资。
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