Aquila Acquisition: The De-SPACed Arb
SPACs - remember them? US offerings in 2021 topped ~US$150bn, falling to US$13bn in 2022. Singapore joined the bandwagon in January 2022 and Hong Kong two months later.
That Hong Kong stock is Aquila Acquisition Corporation (7836 HK), and it recently announced a merger with ZG Group, a Chinese steel trading website.
That's positive. Less positive is how de-SPACed shares tend to trade in the US.
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