Business & Finance
Business and Finance
Business and Finance
Mon, October 18, 2010 Daqo New Energy Corp. Announces Closing of Initial Public Offering and Underwriter's Exercise of Option to Purchase Additional
CHONGQING, China & NEW YORK--([ BUSINESS WIRE ])--Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company"), a leading polysilicon manufacturer based in China, today announced the closing of its initial public offering of a total of 9,200,000 American Depositary Shares ("ADSs"), each representing five ordinary shares of the Company, at a price to the public of $9.50 per ADS. The offering included 1,200,000 ADSs sold by the Company pursuant to the underwriters' option to purchase additional ADSs, which was exercised in full. Morgan Stanley acted as the sole bookrunner. Piper Jaffray & Co. acted as a co-manager for the offering.
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.
A copy of the prospectus relating to the offering may be obtained by visiting EDGAR on the SEC's website at [ http://www.sec.gov ] [[ http://www.sec.gov/Archives/edgar/data/1477641/000119312510225645/d424b4.htm ]], 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 Daqo's 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.
