CN Energy Group (CNEY) IPO Double on Open to $8
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Today's IPO for CN Energy Group. Inc. (NASDAQ: CNEY) opened for trading at $8 after pricing its initial public offering of 5,000,000 ordinary shares at a public offering price of US$4.00 per share. Shares have since trended down to $6.69.
The Offering is being conducted on a firm commitment basis. Network 1 Financial Securities, Inc. is acting as the underwriter for the Offering. Hunter Taubman Fischer & Li LLC acted as counsel to the Company, and Loeb & Loeb LLP acted as counsel to Network 1 Financial Securities, Inc. in connection with the Offering.
CN Energy Group. Inc. is a China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity. The Company also provides activated carbon related technical services. Its wood-based activated carbon is primarily used in pharmaceutical manufacturing, industrial manufacturing, water purification, environmental protection, and food and beverage production. For more information, visit the company's website at www.cneny.com.
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