Star Sports Medicine Invests 190 Million Yuan in Wealth Products; Shares Up 3%

MT Newswires Live05-27

Star Sports Medicine (HKG:1609) subscribed to two wealth management products with a combined principal amount of 190 million yuan, according to a Tuesday Hong Kong bourse filing.

Shares of the medical device company were up nearly 3% in Wednesday afternoon trade.

The company subscribed to an 80 million yuan wealth management product issued by Agricultural Bank of China (HKG:1288, SHA:601288) on May 26 and a 110 million yuan product issued by Bank of Beijing on May 11, using its own funds.

The company said the subscriptions were part of its routine treasury management of idle funds and followed the maturity of earlier wealth management and structured deposit investments this month.

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