Borqs Technologies announced the Committee on Foreign Investment in the United States, CFIUS, has granted the Company an extension from the original deadline of September 15, 2023 to January 1, 2024 to complete the divestment of its subsidiary, Holu Hou Energy, HHE. “Once we receive the funds from selling our interest in HHE, Borqs will continue to invest into futuristic technologies, especially in artificial intelligence based IoT products,” said Mr. Pat Chan, CEO of Borqs. “We will also consider a share buyback program and/or a special dividend payout depending on the amount of cash to be received in order to enhance our shareholder value. We will provide further updates to our shareholders with regards to the HHE divestment during the next few months.”
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