17 February 2021

Carey Olsen Singapore advises CN Energy on Nasdaq listing

Lawyers from Carey Olsen's corporate team in Singapore have advised on the initial public offering of CN Energy Group. Inc. on the Nasdaq Capital Market.

The IPO raised US$20 million for the China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity.

Working alongside lead counsel Hunter Taubman Fischer & Li LLC, the Carey Olsen team advising on all British Virgin Islands (BVI) regulatory and legal aspects of the IPO was led by partner Anthony McKenzie, with assistance from senior associate Susan McKinstray.

Anthony said: "It was a pleasure assisting CN Energy Group on its Nasdaq IPO. It is also pleasing to see the use of a BVI company as the listing vehicle, which underlines the growing popularity of the jurisdiction for IPOs on not only Nasdaq but other global stock exchanges, thanks to the flexible, adaptable and business-friendly company laws in place in the jurisdiction."

Susan added: "We were delighted to see CN Energy Group close its IPO and become the latest example of a Chinese business using a BVI company to successfully raise capital."

For further insight on offshore listing vehicles, including those from the BVI, please refer to our briefing note 'Choosing your offshore listing vehicle - key factors to consider'.

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