HONG KONG, Feb 1, 2026, 10:39 HKT — Market closed.
- Biren’s Class H shares ended Friday at HK$34.80, slipping 1.14%.
- Shares from the IPO’s over-allotment option will begin trading Monday.
- Next week’s crowded Hong Kong IPO schedule could set the tone for new tech stock debuts.
Shanghai Biren Technology’s Class H shares on the Hong Kong market slipped 1.14% to close at HK$34.80 on Friday. Investors face a weekend break ahead of a new wave of shares set to hit the market Monday. (Webull)
This is key since the company remains in the volatile early days post-listing, a period when trading flows often overshadow fundamentals. Even a slight shift in who’s allowed to sell or the amount of stock on the market can send a new stock moving sharply.
The timing coincides with a crowded fundraising spree in Hong Kong, pushing investors to back one deal after another. For newer tech stocks, this often puts demand under pressure right out of the gate.
In a Hong Kong filing on Jan. 28, Biren confirmed the IPO’s over-allotment option, or “greenshoe,” was fully tapped, selling 42.7 million H shares at HK$19.60 apiece. Trading in these extra shares is set to begin Monday, Feb. 2. The company also noted there were no market trades aimed at stabilizing the price during the stabilization window.
The mechanics are simple. More shares on the market can boost liquidity, but it also piles on supply for buyers if early shareholders choose to cash out.
The IPO pipeline shows no signs of cooling. Eastroc Beverage announced Friday it will price its Hong Kong IPO at the top end, targeting HK$10.14 billion. Final pricing and allocation results are expected on Feb. 2, with trading to begin Feb. 3, according to a filing. (Reuters)
Chip and AI companies are stepping up too. Montage Technology and Axera Semiconductor both kicked off Hong Kong share sales aiming to raise a combined HK$10 billion. Tencent is backing Axera. Key dates: Montage prices on Feb. 6 and begins trading Feb. 9, while Axera looks set to debut on Feb. 10, Reuters reported. (Reuters)
Global risk appetite has swung erratically. Following a tech-driven selloff in the U.S. sparked by doubts over the returns from hefty AI investments, John John Praveen of Paleo Leon warned, “there are some genuine concerns that AI investments will eat the software companies’ lunches.” That cautionary tone has been felt widely across AI-related stocks. (Reuters)
Biren designs general-purpose graphics processing unit chips and related computing systems, and it leases computing clusters, according to its profile and financials. Reuters data revealed the company posted revenue of around HK$337 million in 2024, alongside a net loss near HK$1.54 billion. (Reuters)
The post-listing path isn’t without risks. Reuters flagged in its Jan. 2 debut report that the IPO prospectus highlighted concerns over U.S. export controls after the group landed on Washington’s Entity List in October 2023. Competition is fierce, especially from Nvidia in the high-end AI chip space. On that same day, Li Li He of Davis Polk & Wardwell remarked, “AI is fundamentally transformative, driving keen investor appetite.” (Reuters)
Monday’s open marks the next key moment, as the extra shares start trading and investors see if the stock can maintain its level amid increased supply. Later in the week, pricing on new IPOs will provide a clearer signal of how much risk capital remains in Hong Kong for fresh tech listings.
