GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into A Material Definitive Agreement
Acquisition of Billion Sino Holdings Limited
On April 25, 2017, Greenpro Capital Corp,(GRNQ) and Mr. Yiu Yau
Wing and Mr, Chui Sang Derek, representing the 91% 9%
shareholders of Billion Sino Holdings Limited respectively, a
Seychelles corporation (BSHL), entered into a Sale and Purchase
Agreement (the SPA), to which GRNQ acquired 60% of the issued and
outstanding shares of BSHL. As consideration thereof, GRNQ agreed
to issue to the shareholders of BSHL in the aggregate 340,645
restricted shares of GRNQs common stock at $3.5 per share,
representing an aggregate purchase price of $1,192,258. The
purchase price was determined based upon the Business Value of
BSHL which includes, comprises, and covers all the assets
including customers, fixed assets, cash and cash equivalents,
liabilities of BSHL.
BSHL provides insurance intermediary business through its
wholly-owned subsidiary as set forth below:
| Name | Business | |
| Parich Wealth Management Limited(Hong Kong) |
Engages in insurance intermediary business in Hong Kong. Services scope includes long term and general insurance. A qualified member of Professional Insurance Brokers Association (PIBA) |
On April 25, 2017, GRNQ completed the acquisition.
The foregoing description of the Agreement is a summary only and
is qualified in its entirety by the copy of the Agreement filed
as Exhibit 2.1 to this Current Report on Form 8-K and
incorporated herein by reference.
| Item 9.01 | Financial Statements And Exhibits |
| (a) |
Financial Statements of Business Acquired. |
Not applicable
| (b) | Pro Forma Financial Information. |
Not applicable
| (d) |
Exhibits. |
| ExhibitNo. |
Description |
||
| 2.1 |
Sale and Purchase Agreement, dated as of April 25, 2017, between Greenpro Capital Corp. and Mr. Yiu Yau Wing and Mr. Chui Sang Derek |
About GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ)
Greenpro Capital Corp. provides cloud system resolution, financial consulting services and corporate accounting services. The Company operates and provides a range of business solution services to small and medium-size businesses located in Asia, with an initial focus on Hong Kong, China and Malaysia. Its segments include Service business, Real estate business and Corporate. The Service business segment is engaged in the provision of business solution services. The Real estate business segment is engaged in leasing and trading of commercial real estate properties in Hong Kong and Malaysia. Its range of services includes cross-border business solutions, record management services, and accounting outsourcing services. Its cross border business services include tax planning, trust and wealth management, cross border listing advisory services and transaction services. It provides assistance to set up bank accounts with banks in Hong Kong to facilitate clients’ banking operations. GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ) Recent Trading Information
GREENPRO CAPITAL CORP. (OTCMKTS:GRNQ) closed its last trading session 00.00 at 5.70 with shares trading hands.
