Stock in companies run by world's third-wealthiest billionaire slump after short-seller report

U.S. short seller Hindenburg Research has accused Indian conglomerate Adani Group of “brazen stock manipulation and accounting fraud” in a scathing report that pressured shares of affiliated companies.

Shares... U.S. short seller Hindenburg Research has accused Indian conglomerate Adani Group of “brazen stock manipulation and accounting fraud” in a scathing report that pressured shares of affiliated companies. Shares in Adani’s flagship company, Mumbai-listed Adani Enterprises 512599 , which is the country’s biggest port operator, fell 2%, though steeper drops were seen for other companies held by the company, with Adani Power 533096 losing 5% and Adani Green Energy 541450 falling 3%.Hindenburg, an activist short seller that famously alleged that Nikola NKLA demonstrated a truck by rolling it downhill, disclosed it had taken a short position in Adani Group through U.S.

The Hindenburg report alleges a wide network of offshore shell entities, controlled by the Adani family, which were used to escape a 75% limit on control. Hindenburg also alleges the offshore shell companies send money to onshore private companies when then send them onto the publicly traded companies.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Verizon earnings outlook comes up short, stock fallsVerizon returned to positive subscriber growth in its consumer postpaid phone business for the fourth quarter, but its full-year earnings outlook came in light. Boycott Tesla
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »

Indian shares slide on growth fears; Adani group stocks fallIndian stocks opened lower on Wednesday on weak economic data from the United States that hinted at a possible recession, and downbeat growth outlook from companies.
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »