FriendTimes (HKG:6820), through subsidiary FriendTimes Technology, agreed to subscribe for two structured deposits with China CITIC Bank (HKG:0998, SHA:601998) for a total of 70 million yuan, a Monday Hong Kong bourse filing said.
The agreements, signed on Friday, involve two principal-protected, floating return, and closed-end structured deposits, both maturing on May 18.
The first deposit, with a principal amount of 40 million yuan, offers an expected annualized return rate ranging from 1.05% to 2.21%. The second deposit, for 30 million yuan, has a similar structure and maturity date but offers a slightly higher potential annualized return, between 1.05% and 2.50%.
As of Feb. 12, Cheeryoo Network, another subsidiary, had agreed to subscribe to the bank's fixed income open-end wealth management product for 28 million yuan.
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