China BlueChemical (HKG:3983) agreed to subscribe for 300 million yuan of a structured deposit product issued by the Hainan branch of Industrial and Commercial Bank of China or ICBC (SHA:601398, HKG:1398), a Tuesday Hong Kong bourse filing said.
The product has an annualized expected return rate of 1.10% to 2.24% and will fall due in 365 days.
The move comes about in order for the fertilizer maker to put its idle funds to better use.
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