Daqo New Energy Board Approves Share Repurchase Program - Quick Facts

(RTTNews) - Daqo New Energy Corp. (DQ) said its board of directors has approved a $700 million share repurchase program, effective from November 7, 2022 to December 31, 2023. The company expects to fund the repurchase primarily out of its potentially available cash, and its existing cash balance.

The company is authorized to repurchase up to $700 million worth of its own issued and outstanding ordinary shares or American depositary shares representing ordinary shares on the open market, in negotiated transactions off the market, in block trades or through other legally permissible means.