Chinese AI chip startup Biren Technology is seeking to launch a Hong Kong initial public offering in the coming weeks, Reuters reported Tuesday, citing four people with knowledge of the matter.

The listing could raise about $300 million, the report said.

Biren could begin marketing the offering as early as this month, with a trading debut potentially in January, Reuters said.

According to a Monday notice from the China Securities Regulatory Commission, Biren plans to issue up to 372.5 million shares in Hong Kong, with existing shareholders converting about 873.3 million onshore shares, the report said.

Bank of China International, CICC, and Ping An Securities are reportedly the lead banks on the deal.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)