Alset International (SGX:40V) has entered into an agreement with Alset Inc. to convert $300,000 of debt owed by its 73.7%-owned subsidiary, HWH International, into 476,190 HWH shares at a conversion price of $0.63 per share, according to a Thursday filing on the Singapore Exchange.
The proposed conversion aims to reduce HWH's debt and strengthen its financial position.
This follows earlier transactions with Alset and Sharing Services Global Corporation, which collectively amount to nearly SG$3.2 million or 3.83% of the group's latest audited net tangible assets.
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