Sichuan Kelun-Biotech Subscribes to Wealth Management Products

MT Newswires Live

07/01

Sichuan Kelun-Biotech Biopharmaceutical (HKG:6990) said it subscribed to wealth management products offered by China Zheshang Bank and Bank of China, according to a Tuesday filing with the Hong Kong bourse.

The firm agreed to invest 200 million yuan in a structured deposit with China Zheshang Bank for 90 days. The product offers an annualized floating rate of return of 1%, 2%, or 2.15%.

It will invest a further 400 million yuan in a structured deposit with Bank of China for 99 days. The product offers an annualized floating rate of return of 0.60% or 1.90% per annum.

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