Da Yu Financial (HKG:1073) said a wholly owned subsidiary sold $1 million in nominal value of perpetual notes issued by NWD Finance (BVI), according to a Thursday Hong Kong bourse filing.
Shares of the firm were up nearly 2% in Friday morning trade.
Including earlier disposals, the group has sold a total nominal $3.7 million of the notes and other pari passu perpetual notes, generating aggregate proceeds of about HK$21.4 million and an expected realized gain of roughly HK$6.5 million, the filing showed.
The notes are guaranteed by New World Development (HKG:0017), Da Yu said, adding that it took advantage of a recent price rally to exit part of its position.
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