BWI International (02339) surged over 19% again, with its stock price doubling in just three trading days since its resumption of trading on May 11. As of the time of writing, the stock rose 19.74% to HK$9.1, with a turnover of HK$174 million.
On the news front, on the evening of May 10, BWI International announced that its controlling shareholder, BWI Group, had entered into a sale and purchase agreement with Luxshare Precision Industry Co., Ltd. Under the agreement, Luxshare Precision conditionally agreed to acquire all the equity of BWI Group. BWI Group, through its wholly-owned subsidiary, holds approximately 59.50% of the total issued shares of BWI International. Upon completion of the transaction, Luxshare Precision will indirectly hold 59.50% of BWI International's shares and become its ultimate controlling shareholder.
Public information shows that BWI Group is a global Tier-1 supplier of automotive suspension and braking systems. Formerly known as Delphi's chassis systems business, it was wholly acquired by BWI International in 2009. The company focuses on two core product lines—suspension and braking—and is the only enterprise globally with both the R&D capability and large-scale mass production capacity for magnetorheological suspension systems. It holds over 140 global patents related to magnetorheological suspension technology.
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