Vale, the Brazilian miner, plans to list shares in Hong Kong as the company seeks closer ties with investors in China, the world’s largest net iron ore importer by volume and its biggest market by far.
This is a coup for the city’s stock exchange, which faces fierce competition from Singapore and Shanghai and is trying to attract more non-Chinese businesses.
It has been particularly successful with resource companies, which have become increasingly reliant on China’s heavy demand for natural resources to power their growth.
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