Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (HKG:1349, SHA:688505) agreed to subscribe for 210 million yuan of a structured deposit product from Shanghai Pudong Development Bank, a Sunday Hong Kong bourse filing said.

Shares of the firm were up 5% in late morning trade Monday.

The move aims to allow the Chinese pharmaceutical company put its idle funds to better use.

The product has an expected annualized return rate of 0.7%-1.9% and will fall due in 87 days.