Energys Group Files for IPO

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Energy-services company Energys Group has recently filed for an initial public offering (IPO) with the Securities and Exchange Commission. The U.K.-based company aims to provide innovative solutions for businesses to reduce carbon dioxide emissions and save costs, particularly through retrofitting existing infrastructure.

Nasdaq Listing and Expansion Plans

Energys Group is yet to disclose the number of shares it intends to offer or an expected price range for the IPO. However, it has confirmed its intentions to apply for listing its shares on the Nasdaq Capital Market. The company intends to utilize the proceeds from the offering to expand operations within the U.K., acquire inventory, and establish a presence in both European and U.S. markets.

Financial Performance and Leadership

The company reported a loss of $2.9 million in the year ended June 30, with a revenue of $7.63 million. Michael Kwok Yan Lau, the executive director, and chief technology officer of Energys Group, currently owns 89% of the company’s shares before the IPO. To manage the offering, Joseph Stone Capital has been appointed as the sole underwriter.

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