In a press release issued today, Alset Capital Acquisition Corp has officially confirmed the successful completion of its eagerly awaited merger with HWH International Inc, a purpose-driven lifestyle company renowned for its diverse offerings across four core pillars: HWH Marketplace, Hapi Cafe, Hapi Travel Destination, and Hapi Wealth Builder.
The culmination of this strategic merger, which garnered approval at a special meeting of Alset’s stockholders on August 1, 2023, marks a significant milestone in the corporate journey of both entities. Following the completion of the Business Combination, the previously-trading Class A common stock and rights of Alset ceased trading, with holders of these rights now entitled to receive one-tenth (1/10) of one share of Alset Class A common stock.
However, the announcement had an immediate impact on the stock performance of HWH International Inc. After closing Tuesday’s trading session at $2.82, the company’s stock experienced a notable decline, opening at $2.24 on Wednesday morning. The market response to the merger’s completion is closely monitored by industry analysts.
At the time of this publication, HWH International Inc stock (HWH) has witnessed a decline.
HWH International Inc
Current Price: $2.20
Change : -0.62
Change (%): (-21.99%)
Volume: 85.8K
Source: Tomorrow Events Market Data
The business leaders anticipate that the successful Business Combination and subsequent listing of HWH’s common stock will provide the company with a robust platform to sustain its growth momentum within the rapidly expanding GIG (Gig Economy) sector. The combined strengths of Alset and HWH International are poised to unlock new opportunities, further solidifying their positions in the evolving market landscape. Investors and industry observers are now keenly observing the developments to gauge the long-term impact of this merger on both companies and the broader business ecosystem.
As the market absorbs the completion of the merger between Alset Capital Acquisition Corp and HWH International Inc, the fluctuations in HWH’s stock prices following the announcement underscore the heightened anticipation and scrutiny surrounding the strategic business combination, leaving investors poised for future developments in this evolving chapter of the company’s financial trajectory.
