Chan Heng Fai Ambrose, the Chief Executive Officer of Alset Inc. (NASDAQ:AEI), recently acquired 50,000 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The company, currently valued at $8 million in market capitalization, trades significantly below its InvestingPro Fair Value, with a price-to-book ratio of just 0.09x. The purchase, made on January 22, 2025, involved multiple trades executed at prices ranging from $0.82 to $0.86 per share, resulting in a total transaction value of $42,500. Following this acquisition, Mr. Chan directly owns 5,938,438 shares of Alset Inc., with an additional 319,000 shares held indirectly through HFE Holdings Limited. Mr. Chan retains sole voting and investment power over these shares. The insider purchase comes as the stock has declined 26% over the past six months, though the company maintains a strong balance sheet with more cash than debt. Want deeper insights into insider trading patterns and 14 additional ProTips? Discover more with InvestingPro.
In other recent news, Alset Inc. has made several strategic financial moves. The company secured $1.5 million in a direct offering, which is set to bolster its working capital and general corporate purposes. In addition to this, Alset expanded its investment in DSS, Inc. with an $800,000 stock purchase, reinforcing its position as the largest shareholder in the company.
Recent developments also include Alset's increased stake in HWH International Inc. to 88.8% through a stock purchase agreement. This move signifies a strategic intent to influence the direction and growth of HWH International.
Alset Inc. also completed the purchase of 6.5 million shares of HWH International Inc. from its subsidiary, Alset International Limited. This transaction involved issuing a secured promissory note valued at $4.095 million with a 5% annual interest rate, maturing on September 26, 2026.
In terms of governance, Alset Inc. shareholders re-elected seven board members and ratified the appointment of Grassi & Co. as the independent auditor for the year ending December 31, 2024.
Despite a 39.9% decline in revenue over the past year, Alset maintains a strong liquidity position, with a current ratio of 16.94, indicating robust short-term financial stability. These are recent developments in Alset Inc.'s ongoing operations.
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