Da Yu Financial (HKG:1073) purchased a $1 million nominal amount of BNP Paribas perpetual subordinated bonds for about HK$7.3 million, the company said in a Thursday Hong Kong bourse filing.

Shares of the financial firm were down nearly 9% in Friday morning trade.

The transaction was executed through Yu Ming Investment Management, a wholly owned subsidiary of the company.

Following the latest purchase, the group holds $5.8 million in nominal value of the bonds, acquired at a total cost of approximately HK$40.6 million.

The bonds carry a 4.5% coupon that will reset in 2030 and are callable perpetual junior subordinated securities.