Alset EHome International Inc. (NasdaqCM:AEI) agreed to acquire 8.4% stake in Alset International Limited (Catalist:40V) from Heng Fai Ambrose Chan for $15.2 million on January 17, 2022. Under the agreement, Alset EHome International Inc. issued 29.46 million shares as consideration. On February 28, 2022, consideration shares have been revised to 35.31 million. The closing of the transaction is subject to approval of Nasdaq and the Alset EHome's stockholders. Darrin M. Ocasio of Sichenzia Ross Ference LLP acted as legal advisor for Heng Fai.

Alset EHome International Inc. (NasdaqCM:AEI) completed the acquisition of 8.4% stake in Alset International Limited (Catalist:40V) from Heng Fai Ambrose Chan on July 18, 2022. On June 6, 2022, at the special meeting, Alset EHome's stockholder approved, in accordance with NASDAQ Listing Rule 5635(a), the issuance of 35,319,290 newly issued shares of the Alset EHome's common stock in connection with the purchase of 293,428,200 ordinary shares of Alset International Limited from Chan Heng Fai. As of July 19, 2022, Alset EHome's Board approved the transaction.