Citic Pacific hit by target redemption forwards

Mining and manufacturing company Citic Pacific has informed shareholders its financial results will be affected by losses from leveraged foreign-exchange contracts including target redemption forwards. The losses have prompted the Hong Kong Securities and Futures Commission to begin an investigation into the company.

Citic Pacific, whose largest shareholder is Citic HK, a wholly owned subsidiary of Citic Group, the state-owned investment company of the People's Republic of China, held target

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here