Alset Inc. Announces Purchase of HWH International Inc. Shares

Alset Inc. (NASDAQ: AEI) revealed in an 8-K filing that on November 25, 2024, the company entered into a stock purchase agreement with HWH International Inc. (HWH). The agreement entails the acquisition of 4,411,764 shares of HWH’s common stock, priced at $0.68 per share. Prior to this deal, Alset Inc. was the majority shareholder of HWH, owning 86.6% of the company’s issued and outstanding shares. Following the agreement, Alset Inc. and its subsidiaries will now possess 88.8% of HWH’s common stock.

Additionally, it was disclosed that Chan Heng Fai, Alset’s Chairman, Chief Executive Officer, and majority stockholder, also serves as the Chairman of HWH. Moreover, certain members of Alset’s board hold positions as officers and/or directors at HWH.

The investment in HWH is aimed at fostering the growth and progression of the company. Alset Inc. believes that injecting additional capital into HWH serves the best interests of both organizations. The specifics of the Stock Purchase Agreement are available in Exhibit 10.1 of the Form 8-K filing.

In compliance with the disclosure requirements, Alset Inc. has provided the Stock Purchase Agreement with HWH International Inc. as Exhibit 10.1, dated November 25, 2024, in the filing.

The signing of the report was done on behalf of Alset Inc. on November 26, 2024, by Rongguo Wei, Co-Chief Financial Officer.

This article is based on information from an official SEC 8-K filing from Alset Inc. and is written for informational purposes only.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Alset’s 8K filing here.

Alset Company Profile

Alset Inc engages in the real estate development, financial services, digital transformation technologies, biohealth activities, and consumer products businesses in the United States, Singapore, Hong Kong, Australia, and South Korea. It operates through four segments: Real Estate, Digital Transformation Technology, Biohealth, and Other Business Activities segments.