Ata Plus Welcomes 15% Strategic Acquisition From NASDAQ-listed GreenPro Capital Corp
By Digital News Asia July 29, 2020
- As a registered RMO, Ata Plus may also operate a secondary market for ECF investors
- Able to fast track on becoming - in short to medium term, a regional fundraising platform
Ata Plus, a Recognised Market Operator (RMO) registered with the Securities Commission Malaysia, announced yesterday that it has entered into a binding agreement to dispose 15% equity interest to GreenPro Capital Corp - a NASDAQ-listed (GRNQ) multinational conglomerate with a portfolio of businesses.
Ata Plus currently operates an Equity Crowdfunding (ECF) Platform that facilitates public fundraising by private companies in exchange for their shares. As a registered RMO, Ata Plus may also operate a secondary market for ECF investors to trade their shares to interested buyers, as well as work with licensed Venture Capital and Private Equity Management Companies to list microfunds on its platform.
By leveraging on GreenPro’s considerable regional financial assets and global presence, Ata Plus will be able to fast track its focus on becoming - in the short to medium term, a regional fundraising platform, and in the longer term - a global one. The aim is to immediately create a ‘10+1’ market reach potential comprising the 10 member states in ASEAN plus China, where GreenPro has access via their Hong Kong presence. Companies fundraising on the Ata Plus platform will not only have global reach to investors at the ECF fundraising stage, but also a complete support infrastructure to expedite public listings in the USA.
This strategic acquisition also enables Ata Plus to utilise the digital assets and technology recently acquired by GreenPro via their investment in First Bullion Holdings Inc, Philippines. With rapid technological changes, a new ecosystem on financial services is fast emerging - one that demands a whole new way of providing financial services unencumbered by legacy systems. Having already disrupted banking and financial services, these digital technologies are now even transforming capital markets.
As for GreenPro, tapping into Ata Plus’ services and cross referral of clients, the strategic stake in Ata Plus is seen as enhancing and strengthening GreenPro's offerings including company formation, trust and asset protection, family office, financial planning and management, fund management and asset management, and business incubation for SMEs.
"The investment by GreenPro is a decisive move not only towards our commitment for financial inclusion, democratisation of wealth and equality of opportunities, but also to fast track our ambition to be a global player. GreenPro’s suite of technological and financial assets will synergise with Ata Plus’ speedy, cost-efficient and easy-to-use fintech solutions, ultimately strengthening our platform’s capabilities to provide the best crowdfunding experience for both our issuers and investors," said Elain Lockman, Ata Plus’ Co-Founder and Director. "Tapping into GreenPro’s extensive global network will be an immediate boost to our equity crowdfunding platform as our issuers will now have access to greater business opportunities - and a new pool of potential investors, beyond Malaysia," Elain added.
"The unification with Ata Plus makes tremendous business sense for GreenPro," said CK Lee, GreenPro Chief Executive Officer. "Ata Plus’ proven platform for SME fundraising greatly complements GreenPro’s considerable regional financial and technological assets. Together, GreenPro and Ata Plus can generate significant product, customer and cost synergies. We intend to use the Ata Plus platform to provide:
- private high-growth emerging companies – firstly, with frictionless access to a wider pool of global
- investors, by offering an array of new types of securities made possible with our newly acquired
- technology and IP; and secondly – with a proven infrastructure for public listing,” Lee added.
Ata Plus essentially aims to:
● Provide an efficient and innovative channel of fundraising to SMEs and start-up businesses
● Offer a pool of quality, high potential and legitimate deal flow to the investor community
● Operate a transparent and professional ECF platform that balances risk management and compliance through swift processes