Linkers Industries Limited (LNKS) shares shot up 32.5% to $2.12 in after-hours trading Wednesday after the Malaysia-based wire harness maker announced a deal to buy a 29% stake in Thailand's LPW Electronics Co., Ltd. for about $2.35 million.

Strategic Foothold In Thailand's Auto Sector

According to a Wednesday announcement made before the market opened, Linkers, through its wholly-owned subsidiary Linkers Asia Pacific Limited, signed a sales and purchase agreement with Chairman Man Tak Lau to acquire 150,800 shares of LPW Electronics.

Ownership Jump And Cash Settlement

Linkers already held a 20% equity interest in LPW. After the deal closes, that stake will rise to 49%. On top of the $2.35 million acquisition price, Linkers will also settle $6.16 million in outstanding amounts owed by LPW to an associate in cash at closing.

LPW operates a 6,500-square-meter wire harness manufacturing facility in Pathum Thani, Thailand, serving multinational automotive and industrial clients. Linkers said the acquisition will help expand its customer base and deepen its presence in Thailand.

As of Apr. 6, and after a 1-for-250 reverse stock split, Linkers had about 1,356,613 Class A ordinary shares and 250,000 Class B ordinary shares outstanding.

Trading Metrics, Technical Analysis

Linkers has a market capitalization of $2.57 million. The stock has traded between a 52-week high of $420 and a 52-week low of $1.14.

The stock's Relative Strength Index (RSI) is 32.14, which is in oversold territory. Over the past 12 months, LNKS has dropped 98.89%.

The stock is currently positioned close to its annual low. LNKS's steep decline and weak positioning indicate continued pressure, highlighting elevated risk and the need for clearer recovery signals before investor confidence can return.

Price Action: LNKS closed the regular session down 3.03% at $1.60.

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