Asia Tele-Net and Technology (HKG:0679) said it will subscribe to a 15 million yuan certificate of deposit issued by the Tokyo branch of Industrial and Commercial Bank of China (HKG:1398, SHA:601398) as part of its treasury investment strategy, according to a Tuesday bourse filing.
Shares of the company lost 2% in Wednesday afternoon trade.
The product carries a 0% coupon and will mature in 165 days on Dec. 23, and the principal amount subscribed is 14.9 million yuan, with the transaction set to complete on July 11.
Asia Tele-Net said the deposit offers a better return than RMB fixed-term deposits in Hong Kong and is in line with its ordinary treasury activities.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.