Brazil's Vale eyes HK or Shanghai listing -report

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HONG KONG, April 7 | Tue Apr 6, 2010 11:01pm EDT

HONG KONG, April 7 (Reuters) - Brazilian mining giant Vale (VALE5.SA) (VALE.N) is considering a listing in Hong Kong or Shanghai, Ming Pao Daily News reported on Wednesday, citing market sources.

The report gave no further details about its listing plans.

The Chinese newspaper cited Chairman of Hong Kong Exchanges and Clearing (0388.HK) (HKEx) Ronald Arculli as saying a top Brazil-listed resources company had shown interest in seeking a listing in Hong Kong and the candidate had appointed investment banks to proceed with the listing plans.

Arculli did not identify the Brazilian company while the report gave no further listing details.

HKEx will visit Nigeria this year in meeting some resource companies in an effort to identify their interest in a Hong Kong listing, the newspaper said.

HKEx has been actively promoting Hong Kong as a fundraising centre for resource firms globally. (Reporting by Donny Kwok; Editing by Jacqueline Wong)

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