BRIEF: Archosaur buys $24.2 million in wealth management products
Mobile game developer Archosaur Game Inc. (9990.HK) said last Friday it purchased a series of wealth management products totaling $24.2 million, including $12.6 million invested last week in bond-linked notes.
Separately, last year the company subscribed to $6.6 million worth of equity-linked twinwin capital return notes through UBS Singapore.
Archosaur said such wealth management products represent a reasonable and efficient use of its temporary idle cash to enhance capital returns. It added that after considering risk profiles and comparing quotations, it determined the purchases could yield relatively stable returns while still meeting its cash security and liquidity objectives.
Shares of Archosaur opened flat at HK$1.93 on Monday. The stock is up over 35% since the beginning of this year.
By Lau Chi Hang
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