ImmuneOnco Biopharm Invests HK$88 Million in Wealth Management Product

MT Newswires Live

Jun 18

ImmuneOnco Biopharmaceuticals (Shanghai) (HKG:1541) agreed to invest HK$87.5 million in a wealth management product offered by Vital Ventures, according to a Wednesday Hong Kong bourse filing.

The cash management fund is expected to generate an annualized return of 1.5% to 4.5% and invests in assets including cash, bank deposits, certificates of deposit, and short-term U.S. Treasury bonds.

The company said the subscription will be funded by surplus cash reserves and is intended to improve capital utilization and generate additional income from idle funds.

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