About ZG Group
ZG Group operates as a business-to-business (Bb2B) e-commerce platform dedicated to steel trading. Its online steel exchange platform connects buyers with sellers and also provides steel information and price quotes. The platform also provides steel trading, logistics, warehousing and processing, and other related services. It was formerly known as Zhaogang and changed its name to ZG Group. The company was founded in 2012 and is based in Shanghai, China.
Research containing ZG Group
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CB Insights Intelligence Analysts have mentioned ZG Group in 1 CB Insights research brief, most recently on Mar 18, 2021.
Expert Collections containing ZG Group
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
ZG Group is included in 2 Expert Collections, including Construction Tech.
Companies in the construction tech space, including additive manufacturing, construction management software, reality capture, autonomous heavy equipment, prefabricated buildings, and more
Companies that sell goods online (B2C), or enable the selling of goods online via tech solutions (B2B).
Latest ZG Group News
Sep 1, 2023
Chinese steel trading website ZG Group, formerly known as Zhaogang.com, will combine with Hong Kong-listed Aquila Acquisition, exchange filing shows Aquila, Hong Kong’s first SPAC, raised about HK$1 billion in an initial public offering in March 2022 Chinese steel trading website ZG Group has agreed a deal to go public in Hong Kong via a merger with a special purpose acquisition company (SPAC) backed by China Merchants Bank’s overseas asset management arm. The Shanghai-headquartered company, formerly known as Zhaogang.com, will combine with Hong Kong-listed Aquila Acquisition , according to an exchange filing on Thursday confirming a Bloomberg News report. The deal values ZG Group at about HK$10 billion (US$1.3 billion). The agreement comes with a private investment in public equity, or PIPE, with 10 investors including a subsidiary of commodities trading giant Trafigura Group, according to the filing. The proceeds from the PIPE will be HK$605 million. A successful merger would see the first so-called de-SPAC by a Hong Kong-listed blank-cheque company, since the city’s stock exchange announced SPAC rules in 2021 in a bid to chase the US$245 billion US fad that flared and fizzled in less than two years. Aquila, the Asian financial hub’s first SPAC, raised about HK$1 billion in an initial public offering in March 2022. The blank-cheque company planned to search for a target in Asia, with a focus on China, within “new economy” sectors, according to its prospectus. The SPAC’s shares debuted at HK$10 each and closed at HK$8.93 per share on Wednesday. Aquila shareholders will vote on the merger at an extraordinary general meeting expected to be held in or around early December, the filing shows. Following the de-SPAC merger, the company will adopt a dual-class structure, giving class A shareholders one vote and class B shareholders 10 votes. If all Aquila class A shareholders choose to keep their shares, Wang Dong and Wang Changhui, founder and co-founder of ZG Group respectively, would collectively have about 65.7 per cent of the voting rights. In that scenario, Aquila shareholders would have around 3.6 per cent of the voting power, the filing shows. Advertisement Founded in 2012, Zhaogang has more than 1,200 employees, according to its website. The company filed for a Hong Kong IPO in 2018 and had intended to use a dual-class share structure before dropping the plan. China Merchants Bank International, HSBC Holdings and UBS Group are joint sponsors of the deemed new listing. Advertisement
ZG Group Frequently Asked Questions (FAQ)
When was ZG Group founded?
ZG Group was founded in 2012.
Where is ZG Group's headquarters?
ZG Group's headquarters is located at No. 123, Xinpei Road, Shanghai.
What is ZG Group's latest funding round?
ZG Group's latest funding round is Acq - Pending.
How much did ZG Group raise?
ZG Group raised a total of $361.25M.
Who are the investors of ZG Group?
Investors of ZG Group include Aquila Acquisition, Huasheng Capital, Russia-China Investment Fund, Shougang Group, Matrix Partners China and 8 more.