CDT Environmental Technology Investment Holdings, which provides sewage treatment systems and services in China, raised $6 million by offering 1.5 million shares at $4, the low end of the range of $4 to $5. The company offered 0.5 million fewer shares than anticipated.
Because the company has a market cap of less than $50 million at pricing, CDT Environmental Technology Investment Holdings will be excluded from Renaissance Capital's 2024 IPO stats.
Through its subsidiaries, the company primarily provides sewage treatment systems and services in both urban and rural areas. For sewage treatment systems, the company sells complete sewage treatment systems, constructs rural sewage treatment plants, installs the systems, and provides on-going operation and maintenance for Chinese municipalities and enterprise clients. For sewage treatment services, it offers on site septic tank treatment services for Chinese municipalities and property management companies.
CDT Environmental Technology Investment Holdings plans to list on the Nasdaq under the symbol CDTG. WestPark Capital acted as sole bookrunner on the deal.
