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Chinese biomass energy producer CN Energy Group prices US IPO at $4 low end

February 5, 2021
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CN Energy Group, which produces wood-based activated carbon and biomass energy, raised $20 million by offering 5 million shares at $4, the low end of the range of $4 to $5. At pricing, the company commands a market value of $62 million.

CN Energy Group plans to list on the Nasdaq under the symbol CNEY. Network 1 Financial Securities acted as a lead manager on the deal.