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LISHUI, China, Feb. 17, 2021 /PRNewswire/ -- CN Energy Group. Inc. (the "Company"), a China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity, today announced that the underwriters of its initial public offering (the "Offering") had exercised in full their option to purchase 750,000 additional ordinary shares at a public offering price of US$4.00 per share to cover over-allotments.
Gross proceeds from the Offering, including proceeds from the exercise of the over-allotment option, totaled US$23 million, before deducting underwriting discounts and other related expenses. The Company's ordinary shares began trading on the Nasdaq Capital Market on February 5, 2021 under the ticker symbol "CNEY."