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Adani Enterprises stock fell 27% on 1 February, evaporating billions of dollars in market cap

Hedge Funds

Hedge Funds Correspondent

Hedge fund billionaire Bill Ackman has thrown more criticism at Indian conglomerate Adani Group after backing a report that raised multiple concerns about the company.

In a Twitter post on 1 February, the Pershing Square boss said he would not be surprised if Adani Enterprises' $2.25bn follow-on public offering  "was rigged".

Bill Ackman sees potential ‘rigging’ in Adani’s share sale

Bilal Jafar

Adani

Citigroup

Pershing Square

Credit Suisse

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SEJ3W96xosJ6nWNeuBKbSALBB++CJd4RW99yNFG0FP8=

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