Two companies of Adani Group, the Indian conglomerate of Indian billionaire Gautam Adani ($48.5 billion according to Forbes), will issue additional shares for the first time since investment research firm Hindenburg Research’s allegations of securities price manipulation. In this respect Wrote The Financial Times is citing stock data.
The documents will be issued by coal trader Adani Enterprises and electricity transmission company Adani Transmission. In total, companies want to raise $2.5 billion ($1.5 billion and $1 billion, respectively).
Bloomberg in the second half of January reportedHindenburg Research has accused Adani Group holding Adani of numerous financial irregularities. The head of the company at the time was the richest man in India with a fortune of $96.6 billion according to Forbs magazine.
The Guardian newspaper at the beginning of February Wrote about former British Prime Minister Boris Johnson’s younger brother Joe Johnson leaving his post as a board member of Elara Capital, an investment firm linked to Adani’s companies.
Adani in the first half of February was hired Attorneys from Wachtell, Lipton, Rosen & Katz (WLRK), one of New York’s most expensive law firms, have spent years defending against accounting fraud charges.