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CN Steel E-commerce Platform Zhaogang.com Reportedly in Talks to Merge With AQUILA ACQ-Z (07836.HK), First SPAC in HK
Bloomberg, citing sources, reported that mainland steel industry chain e-commerce platform Zhaogang.com are in talks over a potential merger with AQUILA ACQ-Z (07836.HK), a special...
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CN Steel E-commerce Platform Zhaogang.com Reportedly in Talks to Merge With AQUILA ACQ-Z (07836.HK), First SPAC in HK
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Bloomberg, citing sources, reported that mainland steel industry chain e-commerce platform Zhaogang.com are in talks over a potential merger with AQUILA ACQ-Z (07836.HK), a special-purpose acquisition company (SPAC) managed by China Merchants Bank International Asset Management, and further details may be announced as soon as the next few days.

AQUILA, Hong Kong's first SPAC, was listed in March last year, raising about $1 billion. According to its prospectus, the merger programme will consider new economy sectors in Asia, particularly China, including green energy, life sciences, advanced technology and manufacturing.

AQUILA's offer price is $10. Its share price was flat today (30 Aug) at $8.93, with a volume of 2.625 million shares, involving a capital of $23.4413 million.

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