Announced
Financials
Sources
Tags
De-SPAC
Private
Single Bidder
Private Equity
Pending
Friendly
Acquisition
Merger
Reverse Takeover
online platform
Online and Social Platforms
China
B2B Commerce
steel trading
Domestic
Synopsis
ZG Group, which operates a website for steel transactions, agreed to go public via a SPAC merger with Aquila Acquisition, a blank-check company, in a $1.27bn deal. The companies expect the deal to close in the fourth quarter. ZG Group will still need to file a new listing application with the Hong Kong exchange, meaning that it also needs a green light from China's securities regulator for the listing.
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