PVTIME – Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy”, the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, is in the process of applying for an initial public offering (“IPO”) of the Company’s major operational subsidiary, Xinjiang Daqo New Energy (“Xinjiang Daqo”), on the Shanghai Stock Exchange’s Sci-Tech innovation board. Today, Xinjiang Daqo’s updated IPO prospectus and IPO timetable was published by the Shanghai Stock Exchange on its website.
According to the updated prospectus and timetable, Xinjiang Daqo plans to issue 300,000,000 shares representing approximately 15.58% of the total 1,925,000,000 shares outstanding after the IPO. Xinjiang Daqo will conduct a roadshow with potential investors between July 5 and July 7, 2021. The pricing of the IPO is expected to be confirmed by the Shanghai Stock Exchange on July 9, 2021. The Issuance and Subscription Date of the IPO is expected to be on July 13, 2021. The final IPO share placement and share allocation are expected to be confirmed on July 16, 2021. The final IPO results are expected to be announced by the Shanghai Stock Exchange on July 19, 2021.
Daqo New Energy’s Chief Executive Officer Mr. Longgen Zhang commented, “We are very pleased that Xinjiang Daqo will soon be listed on the Shanghai Stock Exchange’s Sci-Tech innovation board. This is a significant milestone which will enable us to further strengthen Xinjiang Daqo’s leadership in the global polysilicon industry through ongoing capacity expansion, increasing product quality and continuous innovation to further contribute to building a sustainable and carbon neutral world.”
