By Ben Glickman
Green Circle Decarbonize Technology on Monday slightly increased the expected price of its initial public offering.
The Hong Kong-based company now expects to sell 2 million units in its initial public offering for $4.13 each. The company previously expected to sell the same number of units at $4.
Each unit will consist of a share and one warrant with an exercise price of $4.13.
Green Circle now expects net proceeds of $5.8 million, which it plans to use for expanding production, repaying debts and working capital.
The company, which is incorporated in the Cayman Islands but operates through its Hong Kong subsidiary, provides energy-saving solutions with its proprietary phase change thermal energy storage. Green Circle describes this tech as “essentially an advanced cooling system that can be deployed in most existing and new buildings.”
Write to Ben Glickman at ben.glickman@wsj.com
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