Chinese AI chip startup Biren surged as much as 119% in its Hong Kong debut, after raising ~$717M in an IPO priced at ~$2.52 per share (Bloomberg)

Bloomberg:

Chinese AI chip startup Biren surged as much as 119% in its Hong Kong debut, after raising ~$717M in an IPO priced at ~$2.52 per share  —  Shares of Shanghai Biren Technology Co. surged nearly 119% in their trading debut, on track for the best first-day performance since 2021 among Hong Kong listings that raised at least $700 million.