Key Developments: Daqo New Energy Corp (DQ)

DQ on New York Consolidated

34.91USD
22 Aug 2014
Price Change (% chg)

$-0.35 (-0.99%)
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$35.26
Open
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Volume
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$56.98
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Latest Key Developments (Source: Significant Developments)

Daqo New Energy Corp announces pricing of registered follow on Public Offering of American Depositary Shares
Wednesday, 14 May 2014 11:00pm EDT 

Daqo New Energy Corp:Says that the previously announced registered follow-on public offering of American depositary shares by the company was priced at $29.00 per ADS on May 14.The company will issue and sell 2,000,000 ADSs.Each ADS represents 25 ordinary shares of the company.In connection with this offering, the company has granted the underwriter a 30-day option to purchase up to 300,000 additional ADSs.The company intends to use the net proceeds from this offering for the expansion of its Xinjiang polysilicon facility, upgrade of process technology at the Xinjiang polysilicon facility, and general corporate purposes.Credit Suisse Securities (USA) LLC is acting as the sole book-running manager and underwriter of the offering.  Full Article

Daqo New Energy Corp announces proposed follow-on public offering of american depositary shares
Monday, 12 May 2014 04:17pm EDT 

Daqo New Energy Corp:Commences proposed registered underwritten public offering of American Depositary Shares (ADSs), each representing 25 ordinary shares of the company.Proposes to offer 2,000,000 ADSs.Intends to grant to the underwriter a 30-day option to purchase up to 300,000 additional ADSs.Intends to use the net proceeds from this offering for the expansion of its Xinjiang polysilicon facility, upgrade of process technology at the Xinjiang polysilicon facility and general corporate purposes.  Full Article

Daqo New Energy Corp signs two-year framework contract
Monday, 16 Dec 2013 07:17am EST 

Daqo New Energy Corp:Says a subsidiary, Xinjiang Daqo New Energy Ltd, signs a two-year spot-price polysilicon supply framework contract with a solar PV company.According to the terms of the agreement, Xinjiang Daqo will supply polysilicon on monthly basis beginning Jan. 2014 through Dec. 2015.The contract will account for about 20 pctof Xinjiang Daqo's polysilicon capacity in 2014, and 15 pct in 2015 The selling prices will be discussed and decided based on spot market prices at the time.  Full Article

Daqo New Energy Corp Announces Expansion Plan For Polysilicon Facilities In Xinjiang
Friday, 22 Nov 2013 03:52am EST 

Daqo New Energy Corp announced that the Board has officially approved the Company's plan to expand its polysilicon capacity in Xinjiang to 12,000 metric ton (MT) per annum. Currently the annual capacity for our Xinjiang facilities is 5,000 MT, which will be raised to 6,150 MT by the end of 2013. The Company plans to further increase the capacity to 12,000 MT and expects to complete the construction and start trail run by the end of 2014. According to the amended investing agreement with the local government of Shihezi City, the Company will enjoy a 3% discount on electricity rate when we fully ramp up the capacity.  Full Article

Daqo New Energy Corp's Subsidiary Signs Long-Term Contracts Of Polysilicon Supply
Thursday, 19 Sep 2013 06:30am EDT 

Daqo New Energy Corp. announced that its wholly owned subsidiary, Xinjiang Daqo New Energy Ltd., has signed long-term contracts with three Chinese wafer manufacturers to provide them with monthly supplies of polysilicon starting from September 2013 to December 2014. According to the contracts, from September 2013 to December 2014, Xinjiang Daqo New Energy will provide over 70% of its output to the three customers. The selling prices will be discussed and decided based on spot market prices at the time.  Full Article

Daqo New Energy Corp Announces Share Repurchase Program
Tuesday, 23 Jul 2013 01:00am EDT 

Daqo New Energy Corp announced that Board of Directors has approved a share repurchase program, effective immediately. The Board of Directors has authorized Daqo New Energy to repurchase up to USD3 million worth of issued and outstanding ordinary shares or American Depositary Shares, or ADSs, representing ordinary shares in open-market purchases, in negotiated transactions off the market, in block trades or through other legally permissible means prior to July 23, 2014 in accordance with applicable securities laws.  Full Article

Daqo New Energy Corp Sells Nanjing Daqo New Energy Co., Ltd. To Daqo Group
Saturday, 29 Sep 2012 08:00am EDT 

Daqo New Energy Corp announced that it has sold Nanjing Daqo New Energy Co., Ltd., the entity that operates the Company's module business, to Daqo Group for a consideration of RMB65.6 million. Daqo Group is one of the private electrical equipment manufacturers in China and an affiliate of the Company. Daqo Group's shareholders in aggregate beneficially own over a majority of the Company's total outstanding ordinary shares. The transaction has been approved by the Company's audit committee, which is composed entirely of independent directors. The Company had conducted a public auction of Nanjing Daqo New Energy Co., Ltd. through Nanjing Asset and Equity Exchange before it determined that the terms of the sale of the module business to Daqo Group are fair to the Company.  Full Article

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