Wanguo International Mining Invests $88 Million in Structured Deposits to Boost Returns

MT Newswires Live11-08

Wanguo International Mining Group (HKG:3939) said it subscribed to $88 million products with JPMorgan Chase Bank, benefiting surplus cash to boost returns, according to a Thursday filing with the Hong Kong bourse.

The investments include two principal-protected, bond-linked $35 million deposits with a six-month term at 4.35% annual investment return. The second deposit is for a twelve-month term with a 4.40% annual return.

Apart from these, a $18 million, 95-day puttable deposit tied to the SOFR rate is also part of the investment.

Wanguo aims to boost income on recent capital from a new share subscription, maintaining flexibility while securing low-risk returns.

The company's shares were up by almost 4% in recent trading.

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