Borqs Technologies Declares Reverse Stock Split

Dow Jones2023-09-30

By Sabela Ojea

Borqs Technologies declared a one-for-12 reverse stock split after receiving a deficiency notification letter from the Nasdaq Stock Market.

The Internet of Things manufacturer on Friday said its common stock is expected to begin trading on the Nasdaq Capital Market on a post-split basis beginning on Oct. 10.

On Sept. 20, the company said the Nasdaq Stock Market notified it that its listed securities didn't maintain a minimum market value of $35 million for a period of 30 consecutive business days.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

September 29, 2023 17:53 ET (21:53 GMT)

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