NEW YORK, Jan. 11, 2019 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX) ("Ideanomics" or the "Company"), a leading global
fintech and asset digitization services company, is pleased to
announce it has entered into an agreement with Huaxi Securities
Co., Ltd as one of several underwriters to participate in the
underwriting of the NTS Electric Bus initiative. Ideanomics is in
the final stages of negotiation with at least two other leading
underwriters.
Huaxi Securities is amongst the leading broker dealer
and investment banking firms in China, ranking number one in western
China region centering Sichuan
Province. Serviceable customers under this agreement include,
but is not limited to, NTS, Shenzhen National Transportation
Services Limited, and Tianjin New Energy Electric Bus.
This agreement forms part of underwriting and marketing of
asset-backed securities in support of the Chinese-government
mandated electric bus upgrade and replacement project. The initial
tranche of financing Ideanomics will service, with regional
partners such as Huaxi, is expected to be RMB 57 billion (approximately USD $8.5 Billion), the final financing amount is
estimated to reach about RMB 260
billion (approximately USD$38.8
Billion).
About Huaxi Securities Co:
Huaxi Securities
Co., Ltd. is a China-based company
which is mainly engaged in securities business. The Company mainly
has five segments. The Brokerage Business segment is principally
engaged in stocks, securities investment funds and bond spot
business. The Investment Banking Business segment is principally
engaged in securities underwriting, sponsorship and financial
advisory businesses. The Asset Management segment is principally
engaged in aggregated asset management business, targeted asset
management business and asset securitization business. The
Self-operated Business segment is mainly engaged in stocks, funds
and bonds. The Futures Business segment is principally engaged in
the provision of futures brokerage and futures investment advisory
services through its holding subsidiaries.
About Ideanomics
Ideanomics seeks to become a
leading fintech company by combining deal origination and
enablement 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, NY, and has offices in Hong
Kong and Beijing, China. It
also has a planned global center for Technology and Innovation in
West Hartford, CT, named Fintech
Village.
Safe Harbor Statement
This press release contains
certain statements that may include "forward looking statements".
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties, and include
statements regarding our intention to transition our business model
to become a next-generation financial technology company, our
business strategy and planned product offerings, our intention to
phase out our oil trading and consumer electronics businesses, and
potential future financial results. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of risks and uncertainties, such as risks related to: our
ability to continue as a going concern; our ability to raise
additional financing to meet our business requirements; the
transformation of our business model; fluctuations in our operating
results; strain to our personnel management, financial systems and
other resources as we grow our business; our ability to attract and
retain key employees and senior management; competitive pressure;
our international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov.. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these risk
factors. Other than as required under the securities laws, the
Company does not assume a duty to update these forward-looking
statements.
Investor Relations and Media Contact
Tony Sklar, VP of Communications at
Ideanomics
55 Broadway, 19th Floor New
York, New York 10006
Email: ir@ideanomics.com
www.ideanomics.com
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SOURCE Ideanomics