Thursday, December 28, 2023 5:58:02 PM
As previously announced, the Company was mandated by CFIUS to divest its ownership in the solar energy storage subsidiary, HHE, due to national security concerns. Subsequently, Cantor Fitzgerald & Co., a nationally reputable investment firm, was engaged by the Company to initiate and manage the sales process of the Company’s ownership in HHE and has received considerable interest from potential buyers. The said transaction is on track to be finalized by the end of the year.
“Proceeds from the divestment will be used for the growth of our business, making strategic M&A, and we will also consider a share buyback program and/or a special dividend payout in order to enhance our shareholder value,” said Mr. Pat Chan, CEO of Borqs Technologies.
Recent BRQS News
- Form NT 20-F - Notification of inability to timely file Form 20-F • Edgar (US Regulatory) • 04/30/2024 08:05:13 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/27/2023 09:00:29 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/27/2023 08:05:06 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/26/2023 08:05:17 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/10/2023 08:03:40 PM
- Borqs Technologies Announces Reverse Stock Split • GlobeNewswire Inc. • 10/06/2023 09:00:00 PM
- Borqs Technologies Shortlists Buyers for the Second Round of Due Diligence & Negotiations for the Divestment of Holu Hou Energy LLC • GlobeNewswire Inc. • 10/06/2023 12:30:00 PM
- Borqs Technologies is Expanding Its IoT Device Businesses in Africa Annual Potential Sales of $30 million • GlobeNewswire Inc. • 10/03/2023 12:30:00 PM
- Borqs Technologies Announces Reverse Stock Split • GlobeNewswire Inc. • 09/29/2023 09:00:00 PM
- Borqs Technologies and SkyCentrics Will Start Commercial Shipment of the Next Generation Modbus Adaptor in Q4 2023 for Smart Grid Appliance Manufacturers in the U.S. • GlobeNewswire Inc. • 09/28/2023 12:30:00 PM
- Dawson James Securities Announces October Date for 8th Annual Small Cap Growth Conference • GlobeNewswire Inc. • 09/21/2023 01:35:00 PM
- Borqs Technologies Receives Nasdaq Notification Regarding Minimum Market Value Deficiency • GlobeNewswire Inc. • 09/20/2023 08:30:00 PM
- Borqs Technologies Received Extension from CFIUS for HHE Divestment, and Will Consider Share Buyback and/or Pay a Special Dividend • GlobeNewswire Inc. • 08/22/2023 01:00:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/04/2023 08:30:36 PM
- Borqs Technologies To Develop Edge AI-enabled Smart Watch for the U.S. Market • GlobeNewswire Inc. • 07/17/2023 01:00:00 PM
- Borqs Technologies and SkyCentrics Will Start Commercial Shipment of Next Generation CTA-2045 ECOPORT Smart Control Products in Q3 2023 for “Electrification of Everything” • GlobeNewswire Inc. • 07/06/2023 01:00:00 PM
- Borqs Technologies To Accelerate Further Expansion Into Artificial Intelligence of Things (AIoT) Solutions • GlobeNewswire Inc. • 06/13/2023 01:00:00 PM
- Borqs Technologies Receives Nasdaq Extension to Satisfy Minimum Bid Price Requirement • GlobeNewswire Inc. • 06/07/2023 01:00:00 PM
- Borqs Technologies Reports Annual Revenues of $52.5 million, an Increase of 77.7%, and Adjusted EBITDA of $4.8 million • GlobeNewswire Inc. • 05/15/2023 08:00:00 PM
- Borqs Technologies Engages Cantor Fitzgerald & Co. For the Divestment of Holu Hou Energy LLC • GlobeNewswire Inc. • 05/09/2023 01:00:00 PM
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