Taoping: Climbs on ad distribution contract
26/07/2018 14:04
** Shares of China-based firm TAOP.O jump 15.4 pct to
$1.50 premarket after its unit enters an ad distribution deal
with housekeeping services provider Ju'an Home
** Deal is expected to generate $17.6 mln revenues for co's
unit Taoping Alliance within next twelve months
** Under the contract, Ju'an Home's real-time ads will be
distributed on selected cloud-based ad terminals of TAOP across
22 cities in China urn:newsml:reuters.com:*:nGNX6VHVY7
** TAOP is expected to receive ~15 pct of the total revenue
generated from the contract
** In March quarter, co reported a revenue of $4 mln and
reiterated FY revenue projection of $30-33 mln urn:newsml:reuters.com:*:nGNX6DyfXH
** Stock off 2.5 pct this year
(Reporting by Medha Singh in Bengaluru)
((medha.singh@thomsonreuters.com))