Benzinga | Jul 6, 2021 08:48AM EDT

Shanghai Stock Exchange Publishes Daqo New Energy Owned Xinjiang Daqo's IPO Prospectus

* Polysilicon manufacturer Daqo New Energy Corp (NYSE:DQ) is in the process of applying for an initial public offering (IPO) of the subsidiary, Xinjiang Daqo New Energy, on the Shanghai Stock Exchange's Sci-Tech innovation board.

* Shanghai Stock Exchange published Xinjiang Daqo's updated IPO prospectus and timetable on its website.

* Xinjiang Daqo plans to issue 300 million shares representing 15.58% of the shares outstanding after the IPO.

* Price action: DQ shares traded lower by 4.24% at $59.90 in the premarket session on the last check Tuesday.