Shareholders of Hengtou Securities (HKG:1476) will meet July 25 to vote on the proposed issue of three series of bonds, a late Monday Hong Kong bourse filing said.

Shares of the Chinese securities company were down over 4% in Tuesday afternoon trading.

The first two series of bonds comprise up to 1 billion yuan of science and technology innovation corporate and subordinated bonds with a three-year term and fixed coupon rate.

The company also plans to raise a maximum of 3.4 billion yuan from the issue of short-term corporate bonds with a fixed coupon rate and maturing in up to one year.

Proceeds from the issue of the bonds are intended to be used to support operations in the technological innovation niche, as well as for replenishing working capital and repaying debts among other uses.