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Shanghai Electric rose 3 percent $ 250 million entered into forward foreign exchange transactions

Release date:2013-07-09

Nearly two weeks continued downward  ( 2.18 , 0.01 , 0.46% ) H shares rebounded significantly this morning, the stock opened higher 3.23% to HK $ 2.24, traded 20.6 million shares. The company recently announced the Board, from time to time to hedge ordinary course of business entered into a non-RMB denominated foreign trade foreign exchange risk, decided to work with HSBC Bank (China) Limited entered into certain foreign exchange forward transactions (recommended forward transactions). Forward transactions recommended ceiling of 2.5 billion U.S. dollars, of which involved major foreign currencies into U.S. dollars and euros. Adding that in addition to the forward foreign exchange transactions, the Shanghai Electric will not conduct any other type of foreign currency hedging transactions.

HG8868  Recently hit a new high after the fall of Shanghai Electric A shares (601727-CN) was down 0.39% currently to 7.73 yuan.

 
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