Billionaire Gautam Adani abandoned a deal to raise $2.5 billion from investors after a week-long meltdown in the value of his logistics and energy business empire that started when an American short seller accused the conglomerate of fraud
The share sale — the largest offering by a company already listed on India’s stock market — had closed successfully just 24 hours earlier. His flagship company, Adani Enterprises, had found enough willing backers despite days of market turmoil following the publication of a scathing analysis by Hindenburg Research. But a brutal day of trading Wednesday wiped billions more off the value of his companies, including Adani Enterprises.
Adani is one of the largest coal producers in India, and operates the controversial Carmichael Coal Mine in Australia. He has also been investing billions of dollars in clean energy, an ambition that aligns with India’s long term climate goals, and has recently expanded into media, data centers, cement production and airports.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Breakingviews - Gautam Adani’s next hurdles may be harder to clearIt helps to have friendly investors and rich families on hand when finalising a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack.
Weiterlesen »
Breakingviews - Breakingviews: Gautam Adani’s next hurdles may be harder to clearIt helps to have friendly investors and rich families on hand when finalising a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack.
Weiterlesen »
Controversy Embroiled Gautam Adani Loses Asia’s Richest Title To Mukesh AmbaniGautam Adani on Wednesday slipped to the 10th spot of Forbes’ real-time billionaire’s list, falling behind fellow Indian billionaire Mukesh Ambani.
Weiterlesen »
Gautam Adani no longer Asia's richest person as stock rout deepens to $74 billionIndia's Gautam Adani lost his title of Asia's richest person on Wednesday as a rout in his conglomerate's stocks deepened to $74 billion after a short-seller report.
Weiterlesen »
How Gautam Adani Lost $50 Billion In A Week—And His Ranking As Asia's RichestA timeline of how Adani’s publicly listed companies have lost $92 billion in a stock market rout.
Weiterlesen »