SAO PAULO, Dec 2 （Reuters） - Brazil's Vale （VALE.N）, the world's largest iron ore producer, said on Thursday that its Hong Kong-listed shares would begin trading next week, a move to increase its visibility among investors in the key Asian market.
The company is offering voting shares and preferred "A" shares -- its most widely traded class of stock -- as Hong Kong depositary receipts, or HDRs. They will start trading on Wednesday.
Asia is Vale's main export market. The company said in a prospectus for the Hong Kong Stock Exchange listing that its sales activities have increased significantly in Asia, particularly in China, and are likely to keep doing so in the short term.
"Therefore, it is believed that a secondary listing in Hong Kong is very important to raise the company's profile in the region and show its commitment to Asia," Vale said.
The decision underscores the growing relevance of Asian capital markets for Vale, which has China as its main customer with nearly one-third of sales.
More traditional, mature financial markets like the United States and Europe are suffering a dearth of interest in stock offerings since the onset of the financial crisis in late 2008, and Asian investors are seeking to take up the slack, attracting new asset classes.
Rio de Janeiro-based Vale would follow Russian aluminum company Rusal （0486.HK）, skin care products retailer L'Occitane （0973.HK） and other international issuers looking to tap a large pool of Asian investors by listing in Hong Kong.
Hong Kong's stock exchange has been a top market for initial public offerings, which have raised about $48 billion so far this year.
Receipts representing Vale's voting shares will trade in Hong Kong under the "6210" symbol, while receipts for the preferred shares will use the "6230" symbol.
Vale, which will not raise any funds from the listing, is the first company to issue the HDRs after the Hong Kong stock exchange implemented a framework for them in July 2008.
Vale's preferred shares （VALE5.SA） rose for a second day, up 1 percent to 49.73 reais in late afternoon trading in Sao Paulo. （Reporting by Elzio Barreto; Editing by Lisa Von Ahn）
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