Alset Inc. CEO Chan Heng Fai acquires $21,661 in common stock

Chan Heng Fai, the Chief Executive Officer of Alset Inc. (NASDAQ:AEI), has purchased 20,244 shares of the company’s common stock, according to a recent regulatory filing. The acquisition was made at an average price of $1.07 per share, totaling approximately $21,661. The stock, which currently trades at $1.16, has shown strong momentum with a 21% gain over the past week. According to InvestingPro analysis, AEI appears undervalued based on its Fair Value metrics.

Following this transaction, Chan directly owns 6,349,742 shares of Alset Inc. Additionally, he holds indirect ownership of 319,000 shares through HFE Holdings Limited, bringing his total beneficial ownership to 6,668,742 shares.

This transaction is part of Chan’s ongoing involvement with Alset Inc., where he holds significant influence as a director, officer, and ten percent owner. The acquisition reflects his continued commitment to the company’s growth and development in the real estate sector.

In other recent news, Alset Inc. has been actively involved in a series of strategic financial maneuvers. In a significant development, the company secured approximately $1.5 million through a registered direct offering with institutional investors. The offering, expected to close in 2025, comprises common stock and pre-funded warrants, with the proceeds planned for general corporate purposes and working capital.

In a separate development, Alset Inc. expanded its investment in DSS, Inc., acquiring over 800,000 newly issued shares at a total cost of $800,000. This move further solidifies Alset’s position as the largest shareholder in DSS.

On the corporate governance front, Alset Inc. recently held its Annual Meeting of Stockholders, re-electing seven members to its board of directors. The company’s shareholders also ratified the appointment of Grassi & Co., CPAs, P.C. as the independent auditor for the upcoming fiscal year.

Alset Inc. has also been strengthening its majority stake in HWH International Inc., recently acquiring an additional 4,411,764 shares of HWH’s common stock. This increased Alset’s ownership in HWH International to 88.8%.

Finally, Alset Inc. completed a strategic stock purchase from its subsidiary, Alset International Limited, acquiring 6.5 million shares of HWH International Inc. This transaction involved issuing a secured promissory note valued at $4.095 million to Alset International Limited. All these recent developments highlight Alset Inc.’s strategic financial activities aimed at strengthening its market position and enhancing shareholder value.

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