LHN Logistics was listed at 20 cents last April in an all-placement offer.
LHN Logistics, which was spun off for its own listing from LHN just last April, is now the subject of a general offer.
A Shanghai-listed logistics company, Milkyway Chemical Supply Chain Service Co, via a local-incorporated unit, is offering 22.66 cents for LHN Logistics, valuing it at around $38 million.
