Welcome to our dedicated page for ALSET news (Ticker: AEI), a resource for investors and traders seeking the latest updates and insights on ALSET stock.
Alset Inc. reports developments as a diversified holding company operating through subsidiaries in real estate, financial services, digital transformation technology, biohealth activities and consumer products. Its updates often center on EHome and other property development, sustainable living initiatives, clean-energy transportation exposure, and capital actions involving its common stock.
Recent company news also covers New Energy Asia Pacific and its Hong Kong electric-vehicle distribution activity, including electric taxis, private passenger vehicles, charging stations and batteries. Other recurring themes include robotics initiatives through Alset Robot, registered direct and underwritten equity offerings, stock repurchase authorizations, shareholder voting matters, governance updates, and operating and financial results.
Alset EHome International Inc. (NASDAQ:AEI) announced a joint venture with Novum Alpha to create a digital assets-based Exchange-Traded Product (ETP) on the SIX Swiss Exchange by Q4 2021. SeD Capital Pte Ltd, Alset's subsidiary, will hold a 50% stake in the new venture, Credas Capital Pte Ltd, while Novum Alpha retains the other half. The venture aims to leverage Novum's expertise in algorithmic trading to offer investors exposure to liquid cryptocurrencies. Initial financing will be through a $150,000 shareholder loan, with 90% provided by SeD Capital.
Alset EHome International (NASDAQ:AEI) has announced that its subsidiary, GigWorld Inc., will acquire an 18% stake in Value Exchange International, Inc. (VEII). Value Exchange, a public holding company based in Hong Kong, specializes in mobile payment solutions across Asia, servicing large retailers like 7-Eleven and Japan Airlines. This investment aims to leverage Value Exchange's strong IT capabilities and expand Alset's global payment platform, with expectations for fresh capital and new market opportunities, according to both companies' executives.
Alset EHome International Inc. (NASDAQ:AEI) announced the completion of key acquisitions aimed at enhancing its asset portfolio and growth potential. The transactions include acquiring warrants for 1.5 billion shares of Alset International, giving AEI a potential 76.75% ownership. Additionally, AEI acquired shares in LiquidValue Development and True Partners Capital, strengthening its presence in asset management and financial services. The total convertible notes issued for these acquisitions amount to approximately $67.1 million, pending shareholder approval for conversion.
Alset EHome International Inc. (NASDAQ:AEI) announced a significant financial turnaround for FY2020, reporting a net profit of US$45.0 million, a recovery from a loss of US$10.2 million the previous year. This was largely driven by US$50.5 million from the sale of its biomedical unit. However, total revenue fell 24% year-on-year to US$17.6 million due to declining sales from the Ballenger Run project and no revenue from the Lakes at Black Oak project. The company also reported a cash increase from US$2.9 million to US$16.9 million as of December 31, 2020.