HK Stock Market Move | BWI INTERNATIONAL (02339) resumed trading, surging over 80%. Controlling shareholder plans to sell all shares; Luxshare Precision Industry may become the ultimate controlling shareholder.

BWI INT'L (02339) resumed trading and surged by over 80%, as of the time of writing, it was up by 58.48% to 7.1 Hong Kong dollars, with a turnover of 34.67 million Hong Kong dollars. In terms of news, BWI INT'L announced that its controlling shareholder, Jingxi Chixing Group, informed them that on March 31 of this year, the seller, guarantor, Luxshare Precision Industry (002475.SZ), and Jingxi Chixing Group entered into a sale and purchase agreement. According to this agreement, Luxshare Precision Industry will acquire all the shares of Jingxi Chixing Group. The announcement stated that currently Jingxi Chixing Group holds over 50% of the voting shares issued by Jingxi Beijing, and Jingxi Beijing holds equity in a total of 769 million shares through its wholly-owned subsidiary, equivalent to approximately 59.5% of the total issued shares. If the potential acquisition is realized, Luxshare Precision Industry will indirectly hold 59.5% of the total issued shares of the company and become the ultimate controlling shareholder of the company.