Business & Finance
Business and Finance
Business and Finance
Fri, October 8, 2010
Thu, October 7, 2010 Daqo New Energy Corp. Announces Pricing of Initial Public Offering of its American Depositary Shares
CHONGQING, China & NEW YORK--([ BUSINESS WIRE ])--Daqo New Energy Corp. (NYSE: DQ) (aDaqoa or the aCompanya), a leading polysilicon manufacturer based in China, today announced the pricing of its initial public offering of 8,000,000 American Depositary Shares (aADSsa), each representing 5 ordinary shares of the Company, at a price to the public of $9.50 per ADS. The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 ADSs from Daqo. The ADSs will begin trading on the New York Stock Exchange on October 7th, 2010, under the ticker symbol aDQa.
Morgan Stanley is the sole bookrunner. Piper Jaffray & Co. is acting as a co-manager.
A registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is being made only by means of a written prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by visiting EDGAR on the SECas website at [ http://www.sec.gov ], or by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street New York, 2nd Floor, New York 10014, Attention: Prospectus Department, by telephone at 1-866-718-1649, or by E-mail at: [ prospectus@morganstanley.com ] or Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, MN, 55402, Attention: Prospectus Department, or by telephone at 1-612-303-8290.
ABOUT DAQO NEW ENERGY CORP.
Daqo New Energy Corp. is a leading polysilicon manufacturer based in China that aims to become a vertically integrated photovoltaic product manufacturer. Daqo manufactures and sells high-quality polysilicon primarily to photovoltaic product manufacturers based in China, which further process Daqoas polysilicon products into ingots, wafers, cells and modules for solar power solutions. Daqo currently sells polysilicon and wafers to China-based photovoltaic product manufacturers and modules to photovoltaic system integrators in Europe.
