As more Brazilian companies are said to be considering a listing Hong Kong to follow in Vale’s footsteps, and as reported by The Wall Street Journal on 23 February, Hunan-based Sany Heavy Equipment International Holdings Co. Ltd. (“Sany International”) has announced plans to issue DRs in Brazil.
read more
HONG KONG (Dow Jones Investment Banker) – Frustrated with what they increasingly perceive as a conflict of interest, a number of companies and their stakeholders are now engaging independent advisers to assess the work done by their investment banks.
HONG KONG (Dow Jones Investment Banker) – Logically, there’s reason to offer around-the-clock trading on securities: Investors can trade from their home turf some of their large holdings. But Vale S.A.’s Hong Kong listing shows the value of such an option is questionable in practice.
Following a week of roadshows across Asia’s main financial centres, Brazil’s Vale, the second largest diversified mining company in the world by market capitalization, listed on 8 December 2010 both common depositary receipts and Class A preferred depositary receipts on the Main Board of the Stock Exchange of Hong Kong, by way of introduction.Vale is the largest non-financial Western company to be listed in Hong Kong and was also the first-ever corporate to list Hong Kong Depositary Receipts (HDRs).
read more
