Greenpro Signs Acquisition Agreement to Acquire 18% of New Business Media Sdn. Bhd
Greenpro Capital Corp. (GRNQ) announced a binding agreement to acquire an 18% equity interest in New Business Media Sdn. Bhd. (NBM), a leading Mandarin language digital business news network in Malaysia. The acquisition involves issuing 257,591 restricted shares for this stake. This move aims to enhance Greenpro's services including company formation and asset management by leveraging NBM's client base. The acquisition awaits regulatory approval and board consent from both companies.
- Strategic acquisition of 18% stake in a leading digital news network, enhancing service offerings.
- Potential for cross-referral of clients between Greenpro and NBM, increasing market reach.
- Acquisition depends on regulatory approval and board consent, which might delay benefits.
KUALA LUMPUR / ACCESSWIRE / November 13, 2020 / Greenpro Capital Corp., (NASDAQ:GRNQ) today announced that it has entered into a binding agreement with New Business Media Sdn. Bhd "NBM" to acquire a
NBM is one of the biggest Mandarin Language Digital Business News Networks in Malaysia and its readers cover the entire South East Asia region. Its capital-markets focused portal is one of the most accessible websites to browse latest business market topics or corporate news.
Greenpro is issuing 257,591 restricted shares for a
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 NBM and the cross referral of clients.
This acquisition is subject to the satisfactory completion of regulatory approval, and the approval of both board of directors of Greenpro and NBM.
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur with strategic offices across Asia, Greenpro Capital Corp. (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 management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com Website: www.greenprocapital.com
About New Business Media Sdn Bhd
NBM is one of the biggest Mandarin Language Digital Business News Networks in Malaysia and the readers cover across South East Asia region. Its capital-markets focused portal is one of the most accessible websites to browse latest business market topics or corporate news.
NBM has a group of experienced editor from various famous local or international news agencies to filtering and publishing financially related news at website name 9Shares (https://9shares.my) by using the latest media technology trend or social media such as web portal, mobile app, Facebook page and telegram to leveraging core digital media assets to build the Credibility, Brand equity and Reach. Website: https://9shares.my
For media inquiries, please contact:
Gilbert Loke, CFO, director
Greenpro Capital Corp. Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
SOURCE: Greenpro Capital Corp.
View source version on accesswire.com:
https://www.accesswire.com/616557/Greenpro-Signs-Acquisition-Agreement-to-Acquire-18-of-New-Business-Media-Sdn-Bhd
FAQ
What is the significance of Greenpro's acquisition of New Business Media (GRNQ)?
How many shares is Greenpro issuing for the acquisition of NBM?
What type of business is New Business Media (NBM)?
Is the acquisition of NBM by Greenpro subject to any approvals?
