ZG Group to go public via a SPAC merger with Aquila Acquisition in a $1.27bn deal.

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.