to-the-point: Daqo New Energy unveils USD-10m stock repurchase plan

Chinese polysilicon and solar wafers producer Daqo New Energy Corp (NYSE:DQ) said on Wednesday it plans to buy back up to USD 10 million (EUR 8.8m) worth of issued and outstanding company shares.

Daqo’s board of directors has approved a one-year share repurchase programme, effective as of August 26, 2015. The company is now authorised to buy back shares in open-market purchases, in negotiated transactions off the market, in block trades or via other legally permissible means, it said.

The firm is not obliged to make repurchases at any specific time, it added.

(USD 1.0 = EUR 0.877)

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