Shanghai BiRen Technology considers Hong Kong IPO, aims to raise about US$300 million

According to people familiar with the matter, Shanghai BiRen Technology Co., Ltd. is considering an initial public offering (IPO) in Hong Kong, which is expected to raise about US$300 million. BiRen Technology is working with CICC, BOC International and Ping An Securities on a potential IPO transaction, and may issue shares this year. However, the negotiations are still ongoing, and the specific scale and timetable may change. It is understood that BiRen Technology handled the tutoring registration with the Shanghai Securities Regulatory Bureau on September 10, 2024, marking its official launch of the A-share IPO work.