Beisen Holding (HKG:9669) subscribed to 60 million yuan and 50 million yuan of wealth management products from Bank of China (HKG:3988, SHA:601988) and Xiamen International Bank, respectively, on Tuesday, a same-day filing with the Hong Kong bourse said.
The Bank of China product has an expected annualized rate of return of 0.75%/2.42% and a term of 345 days, while the Xiamen International Bank product carries a 1.40%/2.40%/2.50% expected annualized return rate and will fall due in 71 days.
The move came about in order to achieve better returns from the cloud-based human capital management (HCM) solutions provider's idle funds.
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