RTTNews | Jul 22, 2021 10:20AM EDT

10:19 Thursday, July 22, 2021 (RTTNews.com) - Daqo New Energy Corp. (DQ) shares are sliding on Thursday morning trade as its operation subsidiary Xinjiang Daqo New Energy completed the IPO process and started trading on the Shanghai Stock Exchange's Sci-Tech innovation board today. The shares closed at RMB 61.11 per share up 184.4 percent from the IPO price of RMB 21.49.

The total proceeds of the IPO were around RMB 6.45 billion and Daqo New Energy owns approximately 80.7 percent of Xinjiang Daqo.

Currently, DQ is at $75.12, down 5.36 percent from the previous close of $79.38 on a volume of 4,504,521. For the 52-week period, the shares have traded in a range of $18.22-$130.33 on average volume of 2,648,633.

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