The Wall Street Journal: Adani Enterprises scraps $2.5 billion stock offering amid scrutiny from short seller

by | Feb 1, 2023 | Stock Market

Indian billionaire Gautam Adani’s flagship company reversed course and canceled a share sale of up to $2.5 billion, as it continues to grapple with the fallout from fraud allegations by U.S. short seller Hindenburg Research. A day earlier, Adani Enterprises
 had collected enough investor bids to pull off the so-called follow-on public offering, or FPO. Adani Enterprises is one of several listed companies within Mr. Adani’s namesake conglomerate, the Adani Group.

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