HK Stock Market Move | BWI INT'L (02339) once surged over 15% as the potential acquisition was completed, with Luxshare Precision Industry becoming the company's ultimate controlling shareholder.

BWI INT'L (02339) once surged over 15%, rising 10.48% as of press time to HK$5.22, with a turnover of HK$4.7987 million. On the news front, on the evening of October 8, BWI INT'L announced that the company was informed by its controlling shareholder, BeijingWest Smart Group, that all conditions precedent under the sale and purchase agreement had been fulfilled or waived, and the potential acquisition was completed on October 8. Upon completion, the seller had transferred all equity interests in BeijingWest Smart Group to Luxshare Precision Industry, which indirectly holds approximately 59.50% of the total issued shares and has become the company's ultimate controlling shareholder. Public information shows that BeijingWest Smart is a global Tier 1 supplier of automotive suspension and braking systems, formerly the chassis systems business of Delphi, which was acquired in its entirety by BeijingWest Industries in 2009. The company focuses on two core product lines, suspension and braking, and is the only company in the world with both R&D and large-scale mass production capabilities for magnetorheological suspension systems, holding more than 140 global patents for magnetorheological suspension.