Deals
China Steel Website Drops Dual-Class Structure for IPO
- Zhaogang.com to pursue listing without weighted voting rights
- Company aims to launch Hong Kong share sale by year-end
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Chinese steel trading website Zhaogang.com Inc. is dropping plans to use a dual-class share structure in its Hong Kong initial public offering, people with knowledge of the matter said.
Zhaogang.com plans to proceed with a regular IPO, selling stock that has the same voting rights as that held by company founders, according to the people. It will work to revise its listing documents and aims to launch the share sale by the end of this year, the people said, asking not to be identified because the information is private.