Benzinga | Jun 22, 2021 09:20AM EDT

Daqo New Energy Reports Its Xinjiang Daqo Subsidiary Completed IPO Registration With China Securities Regulatory Commission

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.

According to the information published by the China Securities Regulatory Commission (CSRC), Xinjiang Daqo has completed its IPO registration process with the CSRC and will soon enter the issuance process for its IPO on the Shanghai Stock Exchange's Sci-Tech innovation board. The issuance process is estimated to be completed within four weeks.

Daqo New Energy's Chief Executive Officer Mr. Longgen Zhang commented, "We are very excited that Xinjiang Daqo will soon enter the issuance process for its IPO on the STAR Market which will enable it to access this fast-growing capital market in China. We expect that its IPO will definitely strengthen Xinjiang Daqo's leadership in the polysilicon industry by accelerating growth, continuing to invest in R&D and quality improvements, and expanding into high-end markets such as semiconductor-grade polysilicon."