UNIVERSAL Appliances announced yesterday that an independent third party was proposing to acquire the company which might give rise to an obligation to make a general offer. The share was the best performing stock of the day. Universal Appliances is a company chaired by Stanley Ho and manufactures consumer electrical products. The stock rose 41.66 per cent or 20 cents to 68 cents. Its major shareholder is Grande Holding with 52.4 per cent according to Corporate International. But it said no firm offer had so far been notified to the company. The proposals may or may not proceed and may or may not result in a general offer for shares of Universal. Last month the Commercial Crime Bureau (CCB) raided the offices of seven publicly traded companies many of which were linked to Mr Ho. They included Shun Tak Holdings, which is also chaired by Mr Ho. The raid was carried out in connection with the police investigation into Tomson Pacific and World Trade Centre Group, their subsidiaries and associated companies together with a number of private companies associated with directors and employees of the group.