logo-loader
viewIdeanomics

Ideanomics enters into JV to create investment company focused on new infrastructure projects in China

The new investment company will develop an AI-enhanced China New Infrastructure bond product, among other things

Ideanomics Inc - Ideanomics Inc enters into a 50/50 joint venture with Business Big Data PTE Ltd/Seasail Ventures to create an investment company focused on new infrastructure projects in China
Ideanomics is teaming with Business Big Data PTE Ltd/Seasail Ventures, which developed the AI technology

Ideanomics Inc (NASDAQ:IDEX) announced Friday that it has entered into a 50/50 joint venture with Business Big Data PTE Ltd/Seasail Ventures (BBD) to create an investment company focused on new infrastructure projects in China. 

The new investment company will develop an artificial intelligence-enhanced China New Infrastructure bond product, introduce capital, and fund advisory services, according to a statement. 

Ideanomics said the investment company will utilize BBD's leading AI technology to provide risk management and selection models for equity and fixed-income products. Its bond product will be the first fund of its kind that enables investors to access value in China's new infrastructure growth. 

READ: Ideanomics says MEG division forges strategic alliance with smart travel tech leader Qinou to rev up electric taxi sales

It said the seven key development areas for new infrastructure construction are: 5G, ultra-high-voltage (UHV), intercity highways and intercity rail transit, new energy vehicle charging stations, big data centers, AI, and the industrial Internet.

The JV company has plans to create an offshore fund that invests in Chinese bonds and equities that are focused on the New Infrastructure initiative. It will be the first of its kind to take advantage of cross border financial market opportunities and AI. 

Ideanomics said BBD will use its AI platform to provide and execute services for the "intelligent" bond and stock risk control and investment decision-making for the JV, including but not limited to designing and maintaining a passive investment index that can be used as a benchmark for overseas exchange-traded funds (ETFs).       

Ideanomics said it anticipates that its interest in ETFs will be transferred to the new JV entity in the effort to focus on the main business in its Mobile Energy Global (MEG) division. And the company continues to streamline its operations and expects to announce divestitures of its non-core businesses throughout the year.

Ideanomics, headquartered in New York with offices in Beijing and Qingdao, China, is a global company focused on monetizing the adoption of commercial electric vehicles and developing next-generation financial services and fintech products.

The company's stock recently traded up 6% to $0.40 a share in New York. 

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham


 

Quick facts: Ideanomics

Price: 1.22 USD

NASDAQ:IDEX
Market: NASDAQ
Market Cap: $204.83 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Ideanomics named herein, including the promotion by the Company of Ideanomics in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Ideanomics launch energy services unit after securing deal with Service...

Ideanomics (NASDAQ: IDEX) CEO Alf Poor joined Steve Darling from Proactive to share news the company has done a deal with infrastructure giant Zhongsen Tower to give the company their launch of Its Energy Services Unit.  Poor talks about how this fits into their overall plan for MEG and...

2 weeks, 6 days ago

2 min read