CN Energy Group. Inc.

CN Energy Group. Inc. (CNEY) priced its initial public offering on Feb 5, 2021 at $4.00 per share, within its $4.00–$5.00 range, raising $20M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $62M. Hunter Taubman Fischer & Li, Carey Olsen, GFE Law Office, Loeb & Loeb and Allbright Law Offices advised the company.

CN Energy Group. Inc. manufactures and supplies wood-based activated carbon through its PRC subsidiary Khingan Forasen, for pharmaceutical and industrial manufacturing, water purification, environmental protection, and food and beverage production. It also produces biomass electricity as a by-product, at a facility in Tahe County, Heilongjiang Province.

Status

IPO

Ticker

CNEY

Exchange

Nasdaq Capital Market

Priced

Feb 5, 2021

IPO price

$4.00

Price range

$4.00–$5.00

Raised

$20M

Market cap at IPO price

$62M

First filed

Jul 2, 2020

Company counsel

Hunter Taubman Fischer & Li, Carey Olsen, GFE Law Office, Loeb & Loeb and Allbright Law Offices

Sector

Industrials & materials

Country / state

China

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.