HK Stock Market Move | BWI INT'L(02339) rose by over 10% again yesterday when trading resumed, closing up over 49%. The controlling shareholder may potentially change hands to Luxshare Precision Industry.

BWI INT'L (02339) rose again by over 10%, with a sharp increase of over 49% upon resumption of trading yesterday. As of the time of writing, it has risen by 10.61%, reaching 7.4 Hong Kong dollars, with a trading volume of 34.6739 million Hong Kong dollars. On the news front, BWI INT'L recently announced that its controlling shareholder, Kingzexi Group, has entered into a sale agreement with Luxshare Precision Industry. Luxshare Precision Industry has conditionally agreed to acquire all the shares of Kingzexi Group. Kingzexi Group holds approximately 59.50% of BWI INT'L's issued shares through its wholly-owned subsidiary. Upon completion of the transaction, Luxshare Precision Industry will indirectly hold 59.50% of BWI INT'L's shares and become its ultimate controlling shareholder. It is reported that Kingzexi Group is a global first-tier supplier of automotive suspension and braking systems, inheriting a century-old technical heritage from Delphi and deeply rooted in the three major automotive production regions in Central Europe and the Americas.