Borqs Technologies announces 1-for-12 reverse split

Borqs Technologies announced that its board of directors has approved a 1-for-12 reverse split of the company’s ordinary shares. The reverse stock split is anticipated to take effect on October 10. Accordingly, at the effective date, every twelve of the company’s ordinary shares issued and outstanding will be automatically converted into one ordinary share of the company. The company’s ordinary shares are expected to begin trading on Nasdaq Capital Market on a post-split basis beginning on the effective date, under a new CUSIP number: G1466B145.