U.S. markets open in 38 minutes
  • S&P Futures

    4,198.75
    +74.25 (+1.80%)
     
  • Dow Futures

    33,167.00
    +430.00 (+1.31%)
     
  • Nasdaq Futures

    13,358.00
    +326.50 (+2.51%)
     
  • Russell 2000 Futures

    1,950.00
    +35.40 (+1.85%)
     
  • Crude Oil

    90.69
    +0.19 (+0.21%)
     
  • Gold

    1,821.00
    +8.70 (+0.48%)
     
  • Silver

    20.75
    +0.26 (+1.28%)
     
  • EUR/USD

    1.0342
    +0.0125 (+1.22%)
     
  • 10-Yr Bond

    2.6950
    -0.1020 (-3.65%)
     
  • Vix

    22.14
    +0.85 (+3.99%)
     
  • GBP/USD

    1.2237
    +0.0161 (+1.33%)
     
  • USD/JPY

    132.9110
    -2.2050 (-1.63%)
     
  • BTC-USD

    23,885.43
    +616.04 (+2.65%)
     
  • CMC Crypto 200

    558.64
    +1.29 (+0.23%)
     
  • FTSE 100

    7,504.63
    +16.48 (+0.22%)
     
  • Nikkei 225

    27,819.33
    -180.63 (-0.65%)
     

Borqs Forms JV To Develop $110M 5G Industrial Park in Huzhou

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Borqs Technologies Inc (NASDAQ: BRQS), via its Huzhou, China government joint venture, receives bids from several real estate developers to build out a 1.9 million sq. ft., $110 million 5G Industrial Park in Huzhou, China.

  • The $110 million value includes the company's 1.7 million sq. ft. of land-use rights granted by the Huzhou South Taihu New Area government.

  • The development will include a research and office complex, manufacturing facilities, convention center, and hotels.

  • The Borqs JV entity with the Huzhou authorities is authorized to manage the development project. It is likely to retain 20% - 30% ownership of the facilities. The developer bidding and selection process are likely to conclude in Q3.

  • Price action: BRQS shares traded higher by 7.94% at $0.9177 in the premarket session on the last check Thursday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.