NEW YORK, Jan. 22, 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 Pacific Securities Co. Ltd., as one of several underwriters to participate in the underwriting of the NTC Electric Bus initiative. Pacific Securities Co. Ltd has committed to underwrite up to RMB 10 billion (US $1.48 billion) of the RMB 57 billion (US $8.5 billion) initial investment under the agreement announced in July 2018.
Pacific Securities Co. Ltd is ranked number 7 of the listed securities companies on Chinese stock exchanges and ranked number 298 amongst the 500 top market cap listed companies in China in January 2017.
This agreement forms part of the 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 Pacific Securities and 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 Pacific Securities
The Pacific Securities Co., Ltd. engages in the securities business in China. The company is involved in the securities brokerage, investment banking, share transfer, asset management, fixed income, securities investment, direct investment, and international business activities, as well as the provision of research and consulting services. The Pacific Securities Co., Ltd. was founded in 2004 and is based in Kunming, China.
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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