Bijiao Technology (06082)'s IPO is booming, with margins exceeding HK$380 billion and oversubscribing by more than 1,500 times

On December 29, the “Hong Kong Stock GPU First Stock” Bijiao Technology IPO ended. According to statistics from Futu Securities, Bijiao Technology (06082) has recorded a margin amount of approximately HK$384.379 billion, an oversubscription amount of 1583.50 times. Bijiao Technology has now issued 247.69 million shares. The sale price range is HK$17.00 to HK$19.60 per share. The estimated amount of capital raised is approximately HK$4.21 to HK$4.85 billion. The pricing results will be announced on December 30. Bijiao Technology will not only be the largest IPO raised since the implementation of the Hong Kong Stock Chapter 18C listing system, but it will also be the first listed IPO in the Hong Kong stock market in 2026. According to the announcement, Bizao Technology will be listed on January 2, 2026.

The Cornerstone Investors of Bizao Technology have a luxurious lineup. According to global sales documents, Bijiao Technology introduced 23 cornerstone investors including Qiming Venture Capital, Ping An Life Insurance, and LionGlobal. The total subscription amount reached about HK$2,899 billion, accounting for nearly 64% of the global sales scale.

According to the prospectus, Bijiao Technology is a leading provider of general intelligent computing solutions in China. The revenue scale increased from RMB 499,000 in 2022 to RMB 337 million in 2024, with a compound annual growth rate of 2,500%. As of December 15, 2025, Bijiao Technology's current order amount reached approximately RMB 1,241 billion.