Daqo New Energy will evaluate the IPO of the main polysilicon unit on July 9th

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July 6 (Renewables Now) – Daqo New Energy Corp (NYSE: DQ) on Monday said that its main subsidiary Xinjiang Daqo New Energy will issue 300 million shares as part of its listing on the Stock Exchange’s Sci-Tech innovation board. Shanghai, with the subscription set for 13 July

The volume offered will represent approximately 15.58% of the total 1.93 billion shares outstanding after the initial public offering (IPO). Daqo New Energy currently holds a 95.6% stake in Xinjiang Daqo.

According to the updated prospectus, a roadshow with potential investors will be held between 5 and 7 July, while the price of the transaction will be announced on 9 July. The final placement of the IPO shares is scheduled for July 16, with the results of the transaction being available on July 19.

Xinjiang Daqo is the main operating subsidiary of Daqo New Energy and carries most of the net profit and revenues of the polysilicon manufacturer.

Commenting on the planned listing, Daqo New Energy CEO said: “This is a significant milestone that will allow us to further strengthen Xinjiang Daqo’s leadership in the global polysilicon industry through continued capacity expansion, quality enhancement. of the product and continuous innovation to further contribute to the construction of a sustainable and zero-carbon world “.

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