Alset International, formerly known as Singapore eDevelopment, has entered into a securities purchase agreement on April 5, through its 99.72%-owned subsidiary, GigWorld.

The agreement was signed with Value Exchange International for the proposed subscription of 6.5 million shares in Value Exchange, representing some 18.0% of Value Exchange’s enlarged share capital, for a consideration of US$650,000 ($870,589).

The proposed subscription is expected to be completed on April 5.

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