Vale starts trading shares on the HKSE

Round the clock operation on HKSE targeted to boost Vale’s expansion of its business presence in Asia.

The Common Depositary Receipts and Class A Preferred Depositary Receipts of Vale (Vale S.A.), the second largest diversified mining company in the world by market capitalization, commenced trading on the Main Board of the Hong Kong Stock Exchange (HKSE) on Wednesday. Vale is the largest non-financial Western company listing in Hong Kong and it is the first ever listing of Hong Kong Depositary Receipts (HDRs) on the HKSE. Following the secondary listing of HDRs on the HKSE, Vale’s shares are now trading almost 24 hours a day around the clock, according to a Vale report.

In recent years, Vale has significantly increased its business activities in Asia, China in particular, and expects this trend to continue in the near term. Vale is currently a major supplier of minerals and metals to China, the further expansion of its business presence in the country forms a key part of Vale’s development strategies. Hence, Vale believes a secondary listing in Hong Kong is a significant step in raising its profile in, and demonstrating its commitment to, Asia.