Daqo New Energy, a manufacturer of high-purity polysilicon for the global solar PV industry, announced that the company’s major operational subsidiary, Xinjiang Daqo New Energy, has completed its IPO process and started trading on the Shanghai Stock Exchange’s Sci-Tech innovation board on July 22, 2021. Xinjiang Daqo has issued 300,000,000 shares representing around 15.58% of the total 1,925,000,000 shares outstanding after the IPO. The shares were issued at a public offering price of RMB 21.49 per share, and the total gross proceeds of the IPO are around RMB 6.45 billion. After the IPO, Daqo New Energy owns around 80.7% of Xinjiang Daqo. On the first trading day of July 22, 2021, Xinjiang Daqo’s shares closed at RMB 61.11 per share, up 184.4% compared to the IPO price.