Yuexiu Property (HKG:0123) entered into a foreign exchange forward contract to lock in the price of purchasing $60 million in cash using yuan, according to a Monday filing with the Hong Kong bourse.
The company will purchase the U.S. dollars from its controlling shareholder Yue Xiu Enterprises on the basis of 6.0287 yuan per $1.
The forward contract has a settlement date of Jan. 20, 2031.
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