GetSolar.com Blog » NYSE:YGE http://www.getsolar.com/blog Get the latest news on solar homes, solar panels & renewable energy Thu, 02 Feb 2012 16:41:09 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Chinese Polysilicon Supplier Files for IPO http://www.getsolar.com/blog/chinese-polysilicon-supplier-files-for-ipo/3159/ http://www.getsolar.com/blog/chinese-polysilicon-supplier-files-for-ipo/3159/#comments Thu, 14 Jan 2010 17:04:04 +0000 Adam Sewall http://www.getsolar.com/blog/?p=3159 a

]]> China’s Daqo New Energy Corp., a manufacturer of polysilicon, on Tuesday filed for an initial public offering (IPO) of up to $108 million. The company, which plans to list on the New York Stock Exchange (NYSE) under the symbol “DQ,” is aiming to sell 6.5 million American Depositary Receipt (ADR) shares priced at between $12.50 and $14.50 each.

Daqo’s three top customers for the first nine months of 2009 were Yingli Green Energy (NYSE:YGE), ReneSola (LON:SOLA) and a subsidiary of a privately held company, Sumec Hardware & Tools Co Ltd. Together, they accounted for 61 percent of Daqo’s revenue. The company will have to compete with companies like MEMC Electronic Materials Inc. (NYSE:WFR), which manufactures polysilicon and, last year, made a downstream acquisition of SunEdison, a large solar energy project owner and developer.

Daqo’s offering is being led by Piper Jaffary, Lazard Capital Markets and Needham & Co., which have the option to purchase an additional 975,000 shares.

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