SHANGHAI, July 5, 2021 /PRNewswire/ -- 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."
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a
leading manufacturer of high-purity polysilicon for the global
solar PV industry. Founded in 2007, the Company is one of the
world's lowest cost producers of high-purity polysilicon. It has a
total annual capacity of 70,000 metric tons of high-purity
polysilicon, with another 35,000 metric tons polysilicon capacity
under construction, which is expected to reach full capacity by the
end of the first quarter of 2022.
For more information, please visit www.dqsolar.com
Daqo New Energy Corp.
Investor Relations
Phone: +86-187 1658 5553
Email: dqir@daqo.com
Christensen
In China
Mr. Rene Vanguestaine
Phone: +86 178 1749 0483
rvanguestaine@christensenir.com
In the U.S.
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "forecast," "might," "guidance" and
similar statements. Among other things, Daqo New Energy's strategic
and operational plans and Xinjiang Daqo's IPO plan, contain
forward-looking statements. The Company may also make written or
oral forward-looking statements in its reports filed or furnished
to the U.S. Securities and Exchange Commission, in its annual
reports to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, all of which
are difficult or impossible to predict accurately and many of which
are beyond the Company's control. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the demand for photovoltaic products and the development
of photovoltaic technologies; global supply and demand for
polysilicon; alternative technologies in solar cell manufacturing;
the Company's ability to significantly expand its polysilicon
production capacity and output; the reduction in or elimination of
government subsidies and economic incentives for solar energy
applications; the Company's ability to lower its production costs;
changes in the political and regulatory environment; and the
duration of COVID-19 outbreaks in China and many other countries and the impact
of the outbreaks and the quarantines and travel restrictions
instituted by relevant governments on economic and market
conditions, including potentially weaker global demand for solar PV
installations that could adversely affect the Company's business
and financial performance. Further information regarding these and
other risks is included in the reports or documents the Company has
filed with, or furnished to, the U.S. Securities and Exchange
Commission. All information provided in this press release is as of
the date hereof, and the Company undertakes no duty to update such
information or any forward-looking statement, except as required
under applicable law.
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SOURCE Daqo New Energy Corp.