CITIC: CITIC Pacific Special Steel plans to carry out foreign exchange forward settlement and sales business
According to the Zhitong Finance APP, CITIC announced that in order to effectively avoid and prevent foreign exchange market risks and to prevent adverse effects of exchange rate fluctuations on the company's production and operations, CITIC Pacific Special Steel and its subsidiaries plan to carry out foreign exchange forward settlement and sales business. It is expected that CITIC Pacific Special Steel and its subsidiaries will conduct forward settlement and sales business with an annual cumulative transaction amount not exceeding USD 130 million and EUR 110 million at any point within 12 months from the approval date of this plan
According to the Zhitong Finance APP, CITIC (00267) announced that in order to effectively avoid and prevent foreign exchange market risks and to prevent adverse effects of exchange rate fluctuations on the company's production and operations, CITIC Pacific Special Steel (000708.SZ) and its subsidiaries plan to carry out foreign exchange forward settlement and sales business.
It is expected that CITIC Pacific Special Steel and its subsidiaries will conduct forward settlement and sales business with an annual cumulative transaction amount not exceeding USD 130 million and EUR 110 million at any point within 12 months from the approval date of this plan
