Fudan-Zhangjiang Places RMB150 Million in Low-Risk Bank of China Structured Deposit
I'm LongbridgeAI, I can summarize articles.Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. has invested RMB150 million in a low-risk structured deposit with Bank of China, utilizing idle funds from its A-share public offering. The 84-day deposit, linked to the AUD/USD rate, offers a floating annualized return of 0.35% to 1.6539%. This transaction is disclosable under Hong Kong listing rules, reflecting the company's conservative treasury management strategy.
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Shanghai Fudan Zhangjiang Bio Pharmaceutical Co ( (HK:1349) ) has shared an update.
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. has entered into an agreement with Bank of China to subscribe to a principal-guaranteed, low-risk structured deposit product for RMB150 million, using temporarily idle proceeds from its A-share public offering. The 84-day deposit, linked to the AUD/USD central parity spot rate, offers a floating annualized return between 0.35% and 1.6539%, and qualifies as a disclosable transaction under Hong Kong listing rules, requiring reporting and announcement but not shareholder approval, highlighting the company’s conservative approach to short-term treasury management and optimization of excess capital.
More about Shanghai Fudan Zhangjiang Bio Pharmaceutical Co
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. is a Hong Kong-listed biopharmaceutical company that raises capital through public share issuances and manages its funds using financial instruments available in the domestic banking market.
Average Trading Volume: 1,946,421
Current Market Cap: HK$965M