News Formal

MSCI to lower free float of two Adani companies

  • 📰 Reuters
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

MSCI will lower the free float of two of India's Adani Group companies, Adani Total Gas and Adani Transmission in its May index review, the financial index provider said on Friday.

MSCI now sees the Adani Total Gas' free float at 14% and Adani Transmission at 10%, from 25%.

Free float is defined as the proportion of outstanding shares considered available for purchase in public equity markets by international investors.implementation of these updates to weightings that were due March and said "potential replicability issues" are behind the decision. Its methodology calls for indexes to be replicated "in an actual portfolio in a cost efficient matter", it said.

MSCI also said in the same month it will review the free float designation of some of the Adani firms' securities after U.S. short seller Hindenburg ResearchReporting by Jahnavi Nidumolu in Bengaluru; editing by Diane Craft

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RTL Group, Fremantle’s Revenues Slide, Streaming Business Grows, Quarterly Results RevealRevenues at Bertelsmann’s Luxembourg-based RTL Group, a media giant which owns Fremantle, slid 9% to €1.4 billion ($1.5 billion) for the first quarter of 2023, financial results released on Thursda…
Source: Variety - 🏆 108. / 63 Read more »