Alset Inc.

Alset Inc. (AEI) priced its initial public offering on Nov 25, 2020 at $7.00 per share, within its $6.00–$7.00 range, raising $15.1M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $59.9M. Aegis Capital was lead-left underwriter, joined by WestPark. Sichenzia Ross Ference Carmel advised the company and Manatt, Phelps & Phillips advised the underwriters.

Alset Inc. is a diversified holding company, formerly HF Enterprises, with operations in property development, digital transformation technology and biohealth across the United States, Singapore, Hong Kong, Australia and South Korea. Its property development includes two projects near Houston, Texas and in Frederick, Maryland.

Status

IPO

Ticker

AEI

Exchange

Nasdaq Capital Market

Priced

Nov 25, 2020

IPO price

$7.00

Price range

$6.00–$7.00

Raised

$15.1M

Market cap at IPO price

$59.9M

First filed

Dec 23, 2019

Underwriters

Aegis Capital and WestPark

Company counsel

Sichenzia Ross Ference Carmel

Underwriters' counsel

Manatt, Phelps & Phillips

Sector

Real estate & finance

Country / state

MD

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.