Ganfeng Lithium to Trade Derivatives to Hedge Against Global Expansion Risks
MT Newswires Live07-17
Ganfeng Lithium Group (HKG:1772, SHE:002460) will ask for shareholder approval for its proposed financial derivatives trading to mitigate risks from its global expansion, according to company filing on Tuesday with the Shenzhen bourse.
The lithium company aims to trade options and forward contracts, with the daily maximum outstanding contract volume capped at 8 billion yuan, the company said.
Margin deposits will also be tapped at the same volume, according to the filing.
Ganfeng shares rose 1% in Hong Kong during Wednesday morning trading.
Price (HKD): $17.68, Change: $+0.20, Percent Change: +1.14%
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