Business
Greenpro to Spin off Millennium Fine Art Shares, Sets Shareholder of Record Date
HONG KONG, CHINA / ACCESSWIRE / June 8, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it will distribute one million shares of common stock
About this update from Greenpro Capital Corp.
[{"type":"text","content":"HONG KONG, CHINA / ACCESSWIRE / June 8, 2020 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that it will distribute one million shares of common stock of its wholly-owned subsidiary, Millennium Fine Art, Inc. (\"MFAI\") to GRNQ's shareholders of record on July 1, 2020.The dividend will comprise approximately one (1) share of MFAI common stock for every 59 shares of GRNQ common stock issued and outstanding on the record date.MFAI recently completed its acquisition of a 96% interest in the Millennium Sapphire for $96 million via the issuance of 19.2 million shares of MFAI common stock valued at $5 per share.CEO CK Lee said, \"We are very pleased to reward our loyal shareholders with this valuable dividend. We plan several more dividends this year of other businesses we are currently incubating.\"About the Millennium Fine Art businessGRNQ plans to spinoff MFAI as an independent company and intends to conduct an IPO and list on either the NASDAQ or NYSE. MFAI intends to take the Millennium Sapphire and other art masterpieces on a world tour of museums once they are open to the public, as well as to develop a virtual reality platform including sales and live art auctions. MFAI President, Curtis Brooks said, \"We are currently focused on the acquisition of a high-end art gallery business and we intend to retain leading art and promotions experts globally to assist us in acquiring some of the top art collections and masterpieces for exhibits, promotional events as well as viewing and sales through our online multi-dimensional auction platform.\"About Greenpro Capital Corp.Headquartered in Hong Kong with strategic offices across Asia, Greenpro Capital Corp. (NASDAQ:GRNQ) is a business incubator and multinational conglomerate with a diversified business portfolio comprising finance, technology, banking, CryptoSx for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth...