Sichuan Kelun-Biotech Subscribes to Wealth Management Products

MT Newswires Live01-07

Sichuan Kelun-Biotech Biopharmaceutical (HKG:6990) subscribed to wealth management products from Bank of China (SHA:601988, HKG:3988) and Bank of Communications (HKG:3328, SHA:601328), according to a Hong Kong bourse filing Tuesday.

Shares of the drug company gained over 2% in morning trade Wednesday.

The firm invested 980 million yuan in a structured deposit with Bank of China for a 181-day period. The product offers an annualized floating rate of return of 0.80% or 2.15% per annum.

Meanwhile, the company invested 400 million yuan in a structured deposit with Bank of Communications for a 182-day period. The product offers an annualized floating rate of return of 1.2% or 2.03% per annum.

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