Chinese Daqo New Energy prices US IPO at USD 9.50 p/s
(ADPnews) - Oct 7, 2010 - Chinese Daqo New Energy Corp said today it priced an initial public offering (IPO) of its American Depository Shares (ADP) on the New York Stock Exchange at USD 9.50 (EUR 6.819) a piece.
The polysilicon producer has offered 8 million ADS, each equalling 5 of its common shares. Daqo has also given an over-allotment option for additional 1.2 million ADS in a period of 30 days.
The shares will trade under the ticker DQ, starting on October 7.
Morgan Stanley (NYSE:MS) is bookrunner of the IPO, and Piper Jaffray & Co is co-manager.