Oct. 2 at 2:04 PM
$DQ in case anyone else is interested..
Daqo management has been planning for a long time to buy the Daqo ADR shares, because of the huge mismatch (they are way too cheap compared to the Chinese valuation).
They would do that if two conditions were met:
- Lockup period expired. That is now a fact (January 15th, 2025)
- Chinese shares have to be above IPO price. That condition is also being met (XJ DQ, IPO share price was ¥21.49 CNY - current XJ DQ share price is at ¥28.73 CNY)
See, for example Q3 2024 earnings call, with @andrew1corporate asking the questions.
https://www.alphaspread.com/security/nyse/dq/investor-relations/earnings-call/q3-2024