Asia Tele-Net and Technology (HKG:0679) said it will subscribe to a 15 million yuan certificate of deposit issued by the Tokyo branch of Industrial and Commercial Bank of China (HKG:1398, SHA:601398) as part of its treasury investment strategy, according to a Tuesday bourse filing.

Shares of the company lost 2% in Wednesday afternoon trade.

The product carries a 0% coupon and will mature in 165 days on Dec. 23, and the principal amount subscribed is 14.9 million yuan, with the transaction set to complete on July 11.

Asia Tele-Net said the deposit offers a better return than RMB fixed-term deposits in Hong Kong and is in line with its ordinary treasury activities.