Hedge Funds

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

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

Ackman continues volley of Twitter posts after a 24 January report from US-based activist Hindenburg Research into India conglomerate
Ackman continues volley of Twitter posts after a 24 January report from US-based activist Hindenburg Research into India conglomerate Photo: Christopher Goodney/Getty Images

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".

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