ImmuneOnco Redeems Huatai Wealth Products, Subscribes to HK$120 Million Note; Shares Slip 5%

MT Newswires Live11-21

ImmuneOnco Biopharmaceuticals (HKG:1541) redeemed HK$49.6 million and HK$43.7 million of wealth management products from Huatai Financial, generating estimated interest income of HK$3.46 million and HK$1.27 million, according to a Thursday bourse filing.

Shares of the firm were down nearly 5% in Friday's late morning trade.

The redemptions represent the company's full holdings in the two Huatai products.

On the same day, the company agreed to subscribe to a new HK$120 million structured note issued by Huatai International Financial Products, with a one-year term and an expected annualised return of 1.5% to 4.5%.

The subscription was funded with internal surplus cash, the filing said.

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