The Zhitong Finance App learned that AQUILA ACQ-Z (07836) has now risen more than 4%. As of press release, it has risen 4.14% to HK$9.3, with a turnover of HK$187.782 million.

According to the news, AQUILA ACQ-Z announced on the Hong Kong Stock Exchange that it has entered into a business merger agreement with Steel Industry Internet Group and its wholly-owned subsidiary Merger Sub. The details relate to the merger and dividend issuance. The merger and acquisition of a special purpose acquisition company will result in a business merger between Aquila and the Steel Industry Internet Group, and the listing of the target company on the Stock Exchange as a successor company.

According to reports, the Steel Industry Internet Group operates the world's largest digital platform for tripartite steel trading. According to Insight Consulting, by connecting key participants in the steel trading industry to its digital platform, the Steel Industry Internet Group took the lead in providing one-stop B2B integrated services covering the entire value chain of steel trading in China, including online steel trading, logistics, warehousing and processing, fintech solutions, SaaS products and big data analysis.