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Chan Heng Fai Ambrose, the Chief Executive Officer of Alset Inc. (NASDAQ:AEI), has acquired 100,000 shares of the company’s common stock. The shares were purchased on January 27, 2025, at a weighted average price of $0.93 per share, amounting to a total transaction value of $93,000. The purchase comes as the stock trades at just 0.11 times book value, according to InvestingPro data.
Following this transaction, Mr. Chan holds a total of 6,357,438 shares in Alset Inc., which includes both direct and indirect ownership. This acquisition demonstrates continued confidence in the company’s prospects by its top executive, despite the stock’s 27% decline over the past six months. InvestingPro analysis reveals 14 additional investment insights for Alset Inc., including detailed valuation metrics and growth indicators.
In other recent news, Alset Inc. has secured $1.5 million in a registered direct offering, which is expected to close on January 3, 2025. The proceeds are earmarked for general corporate purposes and working capital. The company has also recently purchased $800,000 worth of stock from DSS, Inc., strengthening its position as the largest shareholder in DSS.
In addition, Alset Inc. has expanded its stake in HWH International Inc. to 88.8% through a stock purchase agreement, indicating a strategic move to further influence the direction and growth of HWH International. The company has also completed a significant land sale in Texas, selling 72 single-family residential lots for approximately $3.9 million.
The shareholders of Alset Inc. have re-elected seven board members and ratified the appointment of Grassi & Co. as the company’s independent auditor for the year ending December 31, 2024. These are recent developments in Alset Inc.’s ongoing operations, according to reports from InvestingPro and the Securities and Exchange Commission.
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