China Industrial Securities buys $25m in Verizon notes

On November 5, 2025, CISI Investment, a wholly-owned subsidiary of China Industrial Securities International Financial Group Limited, acquired $25,000,000 in principal amount of notes for a consideration of $25,520,208. These notes, with an aggregate principal amount of $2,250,000,000, were issued by Verizon Communications Inc., mature on April 2, 2035, and carry a coupon rate of 5.25%. The acquisition was made on the open market, with an issue price of 99.746% of the aggregate nominal amount.

This transaction is classified as a discloseable transaction under Chapter 14 of the Listing Rules, as one of the applicable percentage ratios exceeds 5% but is less than 25%. However, it is exempt from the Shareholders' approval requirement. The acquisition aligns with the Group's investment strategy to generate stable returns and diversify its portfolio within an acceptable risk level.

The Group's investment strategy focuses on broad diversification across various business sectors, including stocks, bonds, funds, structured products, and derivatives, aiming to broaden revenue streams and enhance shareholder value. The directors view this acquisition as fair, reasonable, and in the best interests of the company and its shareholders.