Business
Greenpro Signs Acquisition Agreement to Acquire 15% of Ata Plus
HONG KONG and KUALA LUMPUR / ACCESSWIRE / July 14, 2020 / Greenpro Capital Corp., (NASDAQ:GRNQ) a multinational conglomerate with a portfolio of businesses,
About this update from Greenpro Capital Corp.
[{"type":"text","content":"HONG KONG and KUALA LUMPUR / ACCESSWIRE / July 14, 2020 / Greenpro Capital Corp., (NASDAQ:GRNQ) a multinational conglomerate with a portfolio of businesses, today announced that it has entered into a binding agreement with Ata Plus Sdn Bhd to acquire a 15% equity interest of Ata Plus. Ata Plus is registered with the Securities Commission of Malaysia as a Recognised Market Operator (RMO) which allows it to operate an Equity Crowdfunding (ECF) Platform to facilitate public fundraising by private companies in exchange for their shares. In addition, Ata Plus can operate a secondary market for ECF investors to sell their shares to interested buyers, and it can also allow licensed Venture Capital and Private Equity Corporations to raise a Microfund on its Platform.Greenpro is issuing 457,312 restricted shares for its 15% equity stake in Ata Plus.This acquisition is seen as enhancing and strengthening Greenpro's offerings comprising company formation, trust and asset protection, family office, financial planning and management, fund management and asset management, and business incubation for SMEs, by leveraging on the services offered by Ata Plus and cross referral of clients.For Ata Plus, Greenpro's considerable regional financial assets and global presence positions it well to become, in the short to medium term, a regional fundraising platform, and in the longer term, a global one. The intention is to immediately create a 10 + 1 market reach potential comprising of the ten member states in ASEAN plus China, where Greenpro has access to via their Hong Kong presence. Companies fundraising on the Ata Plus platform will not only have global access to investors at the ECF fundraising stage, they will also have a complete support infrastructure to expedite public listings in the USA.Ata Plus will also be able to leverage on the digital assets and technology recently acquired by Greenpro via their investment in First Bullion Holdings Inc, Philippines. With rapid technological changes, a new financial services ecosystem is emerging that demands a whole new way to provide financial services unencumbered by legacy systems. Having already disrupted banking and financial services, these digital technologies are now transforming capital markets.\"This business combination makes tremendous sense for Greenpro,\" said CK Lee, Greenpro Chief Execut...