Borqs Technologies gains on acquiring solar energy provider

Borqs Technologies

21/10/2021 15:25

** Software product maker's shares  BRQS.O  up 14.8% at 61
cents - its highest single day jump since June this year
    ** Co says it now owns a 51% interest in Holu Hou Energy LLC
(HHE), a solar energy and storage provider  urn:newsml:reuters.com:*:nGNX9wy47l
    ** Purchase price, in cash and Borqs stock, will be based on
HHE's performance in 2022 and 2023, says co; No other deal terms
were disclosed
    ** Co reaffirms HHE revenue forecast of $48 mln for 2022
    ** Including session gains, stock has lost ~41% YTD

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))