Daqo New Energy Corp. Announces Closing of IPO

Daqo New Energy Corp. DQ today announced the closing of its initial public offering of a total of 9,200,000 American Depositary Shares, each representing five ordinary shares of the Company, at a price to the public of $9.50 per ADS. The offering included 1,200,000 ADSs sold by the Company pursuant to the underwriters' option to purchase additional ADSs, which was exercised in full. Morgan Stanley acted as the sole bookrunner. Piper Jaffray & Co. acted as a co-manager for the offering.