Greenpro's (GRNQ) Angkasa-X Obtains F-1 Effectiveness from SEC for Proposed IPO
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Greenpro Capital Corp. (NASDAQ: GRNQ) today announced that its incubator company Angkasa-X, subsequent to its recent successful launch of A-SEANSAT-PG1 ("PG1") LEO satellite on June 27, 2023, has obtained F-1 Notice of Effectiveness from the U.S. SEC on August 2, 2023 with IPO price at $2.00 per share.
Greenpro Capital currently holds 28,000,000 shares in Angkasa-X.
Angkasa-X was awarded the Space Technology Innovator under Special Recognition Award during PIKOM's Unicorn Tech Awards Night held on July 27, 2023 in Kuala Lumpur, Malaysia. This award honors organizations that have played a pivotal role in the development of the tech sector and are recognized for their contributions, achievements, or breakthroughs in the fields.
Angkasa-X will provide LEO satellite-based Internet services in ASEAN, an area covering 680 million people. Morgan Stanley estimates that the global space industry could generate revenue of more than $1 trillion or more in 2040, up from $350 billion, currently. Yet, the most significant short and medium-term opportunities may come from satellite broadband Internet access, which will be provided by Angkasa-X.
Greenpro CEO, Dr. CK Lee said, " Angkasa-X is another example of one of our successful incubation companies, and we are proud that Angkasa-X is set to become a SpaceTech Unicorn with its vision aligned with the United Nations SDGs, to provide satellite connectivity services to serve the 680 million Southeast Asia mass populations."
ANGKASA-X, a multi awards winning global company, is a Technological-social Inclusion Company with a vision of creating a world where connectivity is a basic, affordable necessity for the betterment of mankind. It consists of a group of companies investing in research & development, IP creation, components sourcing, assembly, integration & testing (AIT), launching and maintaining state-of-the-art Low-Earth-Orbit ("LEO") satellites. Our mission is to provide various satellite connectivity and services to the countries in ASEAN and establish ASEAN Space Economy via the formation of two LEO satellites constellations namely A-SEANLINK and A-SEANSAT, with the end goal of eradicating poverty and improving living standards, especially for those living in the remote rural areas.
ANGKASA-X's vision is in-line with the United Nation's Sustainable Development Goals ("SDGs") Goal 1: No Poverty; Goal 4: Quality Education; Goal 8: Decent Work and Economic Growth; Goal 9, Industry, Innovation and Infrastructure; and Goal 11: Sustainable Cities and Communities.
ANGKASA-X aims to level the playing field by providing the opportunity for better access to internet connectivity by offering Satellite-as-a-Services ("SAAS") to our clients such as telecommunications, government, Internet-service-providers and network companies, which in turn could offer satellite package services to end users and their subscribers.
ANGKASA-X is an official member of the International Communication Union ("ITU"), a specialized agency of the United Nations responsible for many matters related to information and communication technologies. ANGKASA-X is also a registered holder of Network Service Provider ("NSP") and Network Facilities Provider ("NFP") licenses from the Malaysian regulator, Malaysian Communications and Multimedia Commission ("MCMC").
For more information on the company, please visit www.angkasa-x.com
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ: GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, and Green-X for STOs, health and wellness as well as 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. This is done 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. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.
For further information regarding the company, please visit http://www.greenprocapital.com.
The Green-X exchange can be found at https://www.green-x.io/
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 7,875,813 million shares issued and outstanding with a float of 3,831,677 shares.
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: [email protected]
Phone: +852-3111 7718
SOURCE: Greenpro Capital Corp.
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