IPO Preview: Daqo New Energy (DQ) Launches This Week

Chinese-based manufacturer of polysilicon materials used in solar power equipment Daqo New Energy (NYSE:DQ) will raise $88 million this week via its IPO. The company will issue 6.5 million shares at a price of $13 to $15 each. Daqo New Energy currently boasts a market cap of $384 million. The company generated $116 million in sales last year, clearing a hefty $40 million in profit.