Alset EHome International Inc (NASDAQ:AEI) came into focus among investors yesterday after the diversified holding company made a key announcement yesterday. The stock made an upward move as well and ended the day with gains of as much as 7% as investors flocked to it.
Yesterday the company announced that it completed a subscription agreement with the company Document Security Systems Inc. As per the provisions of the subscription agreement, Document Security Systems is going to issue as many as 12,155,591 shares of its common stock for $1.234 each and the total purchase price for the same is going to come to $15 million.
Document Security Systems is a global corporation that is involved in a range of businesses starting from blockchain security, healthcare and consumer packaging to real estate, renewable energy and direct marketing among others.
Investors seem to excited about the possibility of collaboration between the Alset EHome and Document Security Systems. Heng Fai Chen, who is the Chairman and Chief Executive Officer of Alset EHome, spoke about the deal between the two companies as well. He stated that the deal is an example of the sort of confidence Alset EHome has in the capabilities of Document Security Systems as a company.