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.
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
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