On February 5, 2021, CN ENERGY GROUP. INC. (the “Company”), represented by ABL Lawyers, commenced trading on the Nasdaq Exchange (“Nasdaq”) Capital Market in the United States under the ticker symbol “CNEY”. On February 9, 2021, the Company announced the closing of its initial public offering ("Offering") of 5,000,000 ordinary shares at a public offering price of US$4.00 per share. The Company received aggregate gross proceeds of US$20 million from this Offering. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 750,000 ordinary shares at the public offering price.
The Company is a manufacturer and supplier of wood-based activated carbon that is primarily used in pharmaceutical manufacturing, industrial manufacturing, water purification, environmental protection, and food and beverage production, and a producer of biomass electricity generated in the process of producing activated carbon.
The AllBright legal team, led by Senior Partner Steve Zhu and included partner Joy Huang, associate Ken Lin, associate Elain Yu, and paralegal Cindy Wang served as the legal counsels to Network 1 Financial Securities, Inc., the underwriters of this IPO and Nasdaq listing and advised on PRC legal matters.