Zhitong Financial APP learned that AQUILA ACQ-Z (07836) is now up more than 4%. As of press time, it rose 4.14% to HK $9.3, with a turnover of HK $18.7782 million.
On the news side, AQUILA ACQ-Z announced on the Hong Kong Stock Exchange that it had entered into a business merger agreement with Zonggang Industrial Interconnection Group and its wholly-owned subsidiary Merger Sub, relating to the merger and the issuance of bonus shares. The acquisition of a special purpose company will result in a business merger between Aquila and the Steel Industry Interconnection Group and the listing of the target company on the Stock Exchange as a successor.
It is reported that the steel industry interconnection group operates the world's largest three-party steel trading digital platform. According to Jinshi Consulting, by connecting major players in the steel trading industry to its digital platform, Steel Industry Interconnection Group is the first to provide one-stop B2B integrated services covering the whole value chain of steel trading in China, including online steel trading, logistics, warehousing and processing, financial technology solutions, SaaS products and big data analysis.