Greenpro is trading massively high in today’s market followed by the news of incubation of a satellite communication venture to cover the ASEAN region.
Greenpro Capital Corp. (GRNQ) is one of the top gaining stocks in today’s market with spiking above 100%. The stock price skyrocketed after the company announced that it plans to incubate a Low Earth Orbit satellite communication venture in Malaysia for covering the ASEAN region.
Greenpro Capital is a U.S.-based firm that provides various business solutions including financial consulting service, corporate accounting services, and cloud system resolution to small and mid-size businesses. The core focus of the company remains in Asia, specifically Malaysia, Hong Kong, and China.
Greenpro has been trading with a bullish momentum since November 29, 2020, when GRNQ surged above 55%. The market trend of GRNQ has remained consistent over a long period now and during the past six months, it has significantly grown its share price. The recent push seems to be a good sign following the stocks’ consistent momentum in over a one-year period.
At the time of press, Greenpro was trading at $2.01 up by 85%. GRNQ started the day at $2.47 and rose to its highest $2.38 as of 11:15 A.M. EDT.
The company recently opened about its plans to incubate a new Low Earth Orbit (LEO) satellite communication venture in Malaysia aiming to provide internet connectivity through satellite for the South East Asia region.
The CEO of Greenpro, CK Lee said:
“We are excited by the potential to bring internet connectivity to rural areas and help provide the infrastructure to drive e-commerce transactions and development along with cloud-based data-centers for the local economies.”
The main goal is to provide internet services to such areas where conventional internet connectivity is limited with no fiber optics or 5G availability. Borneo and other remote islands will benefit from LEO satellite connectivity.
Greenpro has been involved in various incubation ventures and is set to incubate the LEO project with an OTC quoted company, SEATech Ventures Corp. Greenpro and the group of companies hold 40 million shares of SEATech Ventures Corp out of 92.5 million issued shares.
Mr. Lee added that they will be working closely with SEATech Ventures Corp to move this critical communications project forward.
Moreover, the company recently began the distribution of 12 million shares of common stock of D’Swiss, Inc. (DQWS) to GRNQ’s shareholders of record on September 30, 2020.
Greenpro shareholders who qualified for this dividend will receive their shares directly into their brokerage account automatically. The Company transfer agent Vstock is handling the dividend distribution.
The company is looking forward to announcing several more dividends this year of other companies they are currently incubating and that are quoted on the OTC Pink Sheets and also a possible Securitized Token Offering STO dividends.