abc.net.au/news/adani-secures-much-needed-investment/102053854US boutique investment firm GQG Partners has bought shares worth $US1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout.Hindenburg Research accused Adani of improper use of offshore tax havens and stock manipulationAdani Group's seven listed companies have lost $US1.
The group's seven listed companies have lost some $US135 billion in market value since January 24, when Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation — allegations the billionaire Gautam Adani-led group has denied, but caused it to call off a $US2.5 billion share sale.
US-based, Australia-listed GQG has, through block deals, bought shares worth 154.46 billion rupees in four Adani group companies, including the conglomerate's flagship firm Adani Enterprises, a regulatory filing showed. It also bought shares in Adani Ports and Special Economic Zone, Adani Green Energy and Adani Transmission.
"We believe that the long-term growth prospects for these companies are substantial," said Rajiv Jain, GQC's chairman and chief investment officer.The investment comes as Adani has sought to calm investors, including by holding a fixed-income roadshow in Singapore and Hong Kong.
If you have invested your money with this firm, get every single penny out before they run with it.
Is that why Wong is in India?
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Do they deserve to do their arses?