Never having been involved in an IPO before and having found only 3 of the last 100 IPO’s on the Nasdaq to be under $4, I emailed Stefano, his response was as follows:
For Nasdaq IPO’s, most companies consolidate shares in the ADRs and aim for prices at between $20 and $30 per ADR. We will likely do the same.
He also said the intention is to aggregate several REN shares for 1 ADR
Renergen General Discussion, page-1959
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