India's Adani Enterprises Ltd on Wednesday withdrew its $2.5 billion secondary share sale after Adani Group shares plummeted on concerns raised by a U.S. short-seller.
says it will invest 1.4 billion dirhams in Adani Enterprises' FPO.as investors pumped funds into the share sale, despite the rout in the group's stocks. The 30% anchor portion attracted investors including Maybank Securities and Abu Dhabi Investment Authority, as well as India's HDFC Life Insurance and Life Insurance Corp.* Australia's corporate regulator says it will review Hindenburg report on Adani Group.
* Total losses in stocks of seven listed Adani Group companies since Hindenburg report swell to $86 billion. * Reuters reports India's market regulator is examining the crash in shares of Adani Group and looking into any possible irregularities in the share sale by its flagship company. * Adani Enterprises calls off FPO citing an "unprecedented situation and the current market volatility". It says it is working with its FPO banks to refund the proceeds.
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