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Lizhong Wheel's major owner launches voluntary cash offer

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Anita Gabriel

Anita Gabriel

Published Mon, Aug 17, 2015 · 09:50 PM

Singapore

THE major shareholder of Lizhong Wheel Group has launched a voluntary cash offer for the aluminium alloy wheel maker for 50 Singapore cents apiece. The offer was made by Berkley International, an investment holding firm owned by Tianjin Dong An Brothers, which in turn is owned by Li Zhong Investment - the investment vehicle of the Zang family that owns 64.23 per cent of Lizhong Wheel.

Trading in the shares of Lizhong Wheel will resume on Tuesday after it was suspended on Monday pending the announcement and was last traded at 25.5 Singapore cents

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