Vale S.A.’s listing of Hong Kong Depositary Receipts L-R: Greta Gu, Crystal Zhu, Kelvin Ho of JPMorgan, Carla Albano of Vale, Julian Chung of Norton Rose, Christina Loh and Eve Chan of Paul Hastings, Kevin Altit of Mattos Filho, Cleary Gottlieb's Matthew Warburton In December, Brazilian iron ore miner Vale S.A. became the first company to issue Hong Kong Depositary Receipts (HDRs) following the 2008 establishment of a regulatory framework for the securities.
March 30 2011