Borqs set for best day ever after receiving $150 mln line of credit

Borqs Technologies

13/04/2020 16:15

** Shares of Borqs Technologies Inc  BRQS.O , a maker of
customized smart connected devices, up 315.2% at $5.19
    ** Stock set for best day ever and is the biggest pct gainer
across all U.S. stock exchanges
    ** BRQS says it received a line of credit of up to $150 mln
from a financing group to fulfil over $100 mln worth of
pre-orders for its customized hardware products
    ** The funds will be used to develop customized smartphones,
smartwatches, and other IoT-enabled (Internet-of-Things) devices
including a "personal safety alert device" needed during the
COVID-19 pandemic for customers - co
     ** Despite session's gains, stock down 30.6% YTD

 (Reporting by Bharath Manjesh in Bengaluru)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 8400;))