Markets· IPO

Xinjiang Daqo New Energy debuts on SSE STAR Market, rose 184%

minutes 2021/07/22 08:02:11

Jul 22, 2021 (China Knowledge) - Xinjiang Daqo New Energy (688303) opened at RMB 80.01 on its first day trading on the Shanghai Stock Exchange's STAR Market, an increase of 272% from its IPO price of RMB 21.49.

The shares price ended the day at RMB 61.11, soaring 184% from its issue price. Its intraday high and low were RMB 80.21 and RMB 59.54, respectively. A total of 123.4 mln shares changed hands with a turnover of RMB 8.2 bln, and ending the day with a total market capitalization of RMB 117.6 bln.

Xinjiang Daqo New Energy reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity of high purity semiconductor material and polycrystalline silicon, and to supplement its working capital.

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