Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), one of the world’s leading financial services and asset digitization companies, is pleased to announce that it has entered into an agreement with Huaxi Securities Co., Ltd. as one of the many underwriters to participate in the NTS Electric Bus initiative underwriting. Ideanomics is in the final stages of negotiation with at least two other leading underwriters.
Huaxi Securities is a leading brokerage and investment banking company in China, ranked number one in the west China region in the center of Sichuan province. Customers serviceable under this agreement include, but are not limited to, NTS, Shenzhen National Transportation Services Limited, and Tianjin New Energy Electric Bus.
This agreement is part of the subscription and marketing of asset-backed securities in support of the electric bus modernization and replacement project mandated by the Chinese government. The initial tranche of funding that Ideanomics will serve, with regional partners such as Huaxi, is expected to be 57 billion RMB (around USD $ 8.5 billion), the final amount of funding is estimated to be approximately 260 billion RMB (about 38.8 billion US dollars).
About Huaxi Securities Co:
Huaxi Securities Co., Ltd. is a Chinacompany based mainly in the field of securities. The Company mainly has five segments. The Brokerage segment is primarily engaged in equities, securities investment funds and spot bonds. The Investment Banking Business segment is mainly engaged in securities underwriting, sponsorship and financial advisory activities. The Asset Management segment is primarily engaged in aggregate asset management activities, targeted asset management activities and asset securitization activities. The Self-Directed Companies segment is mainly active in equities, funds and bonds. The Futures Business segment is primarily engaged in the provision of term brokerage services and term investment advice through its portfolio subsidiaries.
Ideanomics seeks to become a leading financial technology company by combining transaction origination and activation with the application of blockchain and artificial intelligence technologies as part of the next generation of financial services.
The company is headquartered in New York, New York State, and has offices at Hong Kong and Beijing, China. It also has a planned global center for technology and innovation in West Hartford, Connecticut, named Fintech Village.
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