Shanghai Electric:Plan Forex Contracts With HSBC For Hedging

China's Shanghai Electric Group Co. (2727.HK) said Tuesday it plans to enter into forward exchange contracts worth up to US$250 million with a unit of HSBC Holdings Plc (HBC), to help hedge its exposure to foreign-exchange risks in future non-yuan transactions.

The Hong Kong-listed company said the main currencies involved in the contracts are U.S. dollars and euros.

Shanghai Electric said it won't enter into any other forex hedging transaction apart from the deal announced Tuesday.


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