Daqo New Energy (DQ) IPO Prices at $9.50, Below Expected Range

October 7, 2010 9:33 AM EDT
Daqo New Energy Corp. (NYSE: DQ) priced its initial public offering of 8,000,000 ADSs at $9.50, below the expected range of $10.50-$12.50. Shares will open shortly on the NYSE.

Morgan Stanley is the sole bookrunner. Piper Jaffray & Co. is acting as a co-manager.

Daqo New Energy Corp. is a leading polysilicon manufacturer based in China that aims to become a vertically integrated photovoltaic product manufacturer.

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