In terms of new Hong Kong listings, 2010 will end on much the same note as it opened with an international resources company starting to trade here. In January, Russian aluminium giant UC Rusal became the first non-Asian company to go public in Hong Kong and on Wednesday it will be followed by Brazil’s Vale, the largest iron ore producer and second largest diversified mining company in the world. In between the two, only one other non-Asian company has listed in Hong Kong French cosmetics and skincare company L’Occitane, making this a trend still very much in its infancy.
A key difference between Vale and RusalL’Occitane is that the former will list through introduction,...
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