Adani vs Hindenburg
The Weekend Brief looks at the Hindenburg Research report that tanked Gautam Adani’s net worth.
Hindenburg Research, a short-seller based in New York City, released a 100-page report accusing Indian billionaire Gautam Adani of “brazen stock manipulation” and accounting fraud, wiping out $112 billion from Adani’s listed companies within ten days.
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Adani had to cancel an FPO (a share sale via a follow-on public offer) and lost the title of Asia’s richest person.
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Tomorrow, the Weekend Brief will look at Gautam Adani’s business background and the potential consequences of Hindenburg’s allegations.
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