Chinese steel website Zhaogang said to drop dual-class IPO plans

The flag of Hong Kong Exchanges & Clearing Ltd. (HKEx), top center, the Chinese national flag, bottom center, and the Hong Kong SAR flag, bottom right, fly in the Central district of Hong Kong, China, on Wednesday, March 2, 2016. Photographer: Justin Chin/Bloomberg

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.

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