Benzinga | Nov 13, 2020 08:05AM EST

Greenpro Signs Acquisition Agreement To Acquire 18% Of New Business Media Sdn. Bhd

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 18% equity interest of NBM.

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 18% equity stake in NBM.

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.