星期五, 11 7 月, 2025
Home PV Finance Daqo New Energy set for IPO after clearing CSRC registration

Daqo New Energy set for IPO after clearing CSRC registration

Source:PVTECH

Polysilicon manufacturer Daqo New Energy is set to proceed with its initial public offering (IPO) after completing its registration with the China Securities Regulatory Commission (CSRC).
Earlier this month Daqo said that its application had been filed with the CSRC, also revealing as part of that process that it expected to record a 50% leap in sequential revenue this year.
Having now completed the registration of its IPO with the CSRC, Daqo said the issuance process would begin soon, kickstarting the issuance which the company said would complete within four weeks.
The timeline means Daqo looks to be on track to list on the Shanghai Stock Exchange’s Sci-Tech innovation board, otherwise known as the STAR market, on schedule next month.
Longgen Zhang, chief executive at Daqo New Energy, said the IPO would strengthen the company’s position in the polysilicon supply market while allowing it to invest further in R&D and quality improvements.
Daqo’s current annual polysilicon production stands at 70,000 metric tons, however capacity for a further 35,000 metric tons is due to come onstream in Q1 2022.
Prospective prices for Daqo’s IPO and expected proceeds have yet to be disclosed.
The listing comes amidst a flurry of investment activity in polysilicon production as the industry looks to both rapidly expand production capacity and lock-in supply chains. Late last week Xinte Energy revealed both JinkoSolar and JA Solar were to invest in a new 100,000 ton production facility in Inner Mongolia, giving the two module manufacturers priority over the polysilicon it produced.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

India will add 8,500 MWh of storage within the next two years

India Central Electricity Authority Chairperson Ghanshyam Prasad said on Wednesday that 3,300 MW of Battery Energy Storage System (BESS) projects are in the pipeline...

Coal giant snaps up solar thermal project in landmark deal for long duration storage technology

AGL, Australia’s biggest coal generator, has snapped up a newly approved solar thermal project in South Australia, adding to its options for long duration...

Al Kharsaah: A Pioneering Solar Power Plant in Qatar

Located 80 km west of Qatar's capital, Doha, the Al Kharsaah Solar PV Independent Power Producer (IPP) project is the country's first large-scale solar...

OMV Petrom Buys 50 Pct Stake in Gabare Solar Project

OMV Petrom S.A. has acquired a 50 percent stake in the Gabare solar project from Enery Element, a large-scale project in Byala Slatina, near...