Gulf investors seek share of US$2.5bil sale


Abu Dhabi-based IHC, which invested almost US$2bil (RM8.56bil) in Adani’s companies last year, wants to buy the largest chunk of around US$200mil (RM856.3mil) in this share sale. — Reuters

NEW DELHI: Middle Eastern investors, including International Holding Co PJSC (IHC) and Abu Dhabi Investment Authority, are bidding to buy stock in the US$2.5bil (RM10.7bil) follow-on share sale floated by Indian billionaire Gautam Adani’s flagship, according to people familiar with the matter.

Mubadala Investment Co PJSC and BNP Paribas SA have also bid, the people said, asking not to be identified as the details aren’t public.

The so-called anchor book for Adani Enterprises Ltd was oversubscribed by 1.8 to two times, the people added.

Commitments from global firms were to be finalised yesterday, and bids for smaller potential investors run from Jan 27 to 31.

The intention to buy into the empire run by Asia’s richest man comes as US-based Hindenburg Research took a short position on the conglomerate, alleging financial improprieties.

Abu Dhabi-based IHC, which invested almost US$2bil (RM8.56bil) in Adani’s companies last year, wants to buy the largest chunk of around US$200mil (RM856.3mil) in this share sale, according to one of the people.

Others have put in bids ranging from US$25mill (RM107mil) to US$50mil (RM214mil), according to the source. — Bloomberg

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Adani , stocksale , mideast , investors , IHC , bids

   

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