Daqo New Energy Announces Share Repurchase Program


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Polysilicon manufacturer Daqo New Energy Corp. ( DQ ) today announced that its board of directors has approved a share repurchase program, effective immediately.

The board of directors has authorized Daqo New Energy to repurchase up to US$5 million worth of its issued and outstanding ordinary shares or American Depositary Shares, or ADSs, representing ordinary shares in open-market purchases, in negotiated transactions off the market, in block trades or through other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.

DQ was last trading at $0.840, moving closer to year lows 78 cents.

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This article appears in: Investing , Commodities


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