Ideanomics To Divest Stake In Amer For 10% Stake In Logistorm

Ideanomics Inc IDEX has entered into an agreement to divest its 55% stake in Amer Global electronic parts supply chain business for a 10% stake in Logistorm based in Hong Kong.

Ideanomics, along with partners BCC Technology Company Limited, Tekang Holdings, and Beijing Financial as management holdings will assist Logistorm with the aim to improve robotics and electronic internet industry and lease financing of industrial robotics.

"The Logistorm team approached Ideanomics to acquire the Amer Global business as part of its plans to enter into the supply chain and trading of electronic parts to help streamline its robotics business operations," said Alf Poor, CEO of Ideanomics. "This deal enables Ideanomics to get meaningful residual value from the Amer Global business which was already being wound down, in exchange for transitioning our operational expertise in electronic parts trading and for future advisory services ranging from sourcing of financing facilities, up to and including an IPO of the Logistorm business in a 2020 timeframe."

Ideanomics shares are trading up 2.7% at $2.65 in Thursday’s pre-market session. The stock has a 52-week high of $5.75 and a 52-week low of $1.12.

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