BOCOM International (HKG:3329) said a wholly owned subsidiary has invested $10 million in floating-rate notes, according to a Wednesday Hong Kong bourse filing.

Shares of the firm were down nearly 4% in Thursday morning trade.

Preferred Investment Management acquired the notes in the over-the-counter market at par, the filing said.

The purchase was funded using internal resources.

The notes are part of a $650 million issuance due January 2031 and are guaranteed by an indirect subsidiary of CITIC Securities (HKG:6030, SHA:600030).