Borqs Technologies Received Extension From CFIUS For HHE Divestment, And Will Consider Share Buyback And/Or Pay A Special Dividend
Portfolio Pulse from Happy Mohamed
Borqs Technologies, a global provider of 5G wireless and IoT solutions, has been granted an extension by the Committee on Foreign Investment in the United States (CFIUS) to complete the divestment of its subsidiary, Holu Hou Energy LLC (HHE), by January 1, 2024. The company is considering a share buyback program and/or a special dividend payout after the divestment.
August 22, 2023 | 1:02 pm
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Borqs Technologies has been granted an extension for the divestment of its subsidiary, HHE. The company may consider a share buyback or special dividend after the sale, which could potentially enhance shareholder value.
The news of the extension for the divestment of HHE provides Borqs Technologies with more time to complete the sale, potentially at a better price. The consideration of a share buyback or special dividend after the sale could enhance shareholder value, which may positively impact the stock price in the short term.
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