Inner Mongolia Xinhua Distribution Group (SHA:603230) is planning to invest up to 1.8 billion yuan of its idle self-owned funds in safe, liquid and principal-guaranteed financial products.
The funds will be used within 12 months on a rolling basis, subject to shareholder approval, according to a Saturday filing with the Shanghai bourse.
Shares of the book distributor closed 1% higher Monday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.