Maybank’s clarification came after various media reported last week that Maybank Securities was allocated a stake in Adani Enterprises’ US$2.5 billion (RM10.6 billion) secondary share offering. The report came out just before the secondary share sale by Adani Enterprises began for retail and institutional investors last Friday (Jan 27). The secondary share sale is reported to be India’s largest. As at 4.05pm, Adani Enterprises’ share price was trading at 2,767.40 rupees — down 18.3% from 3,388.95 rupees last Wednesday but slightly higher than last Friday’s close of 2,761.45 rupees. Adani Enterprises aims to fund capital expenditure and pay off some of its debts from the proceeds of the share sale.

Source: The Edge Markets January 31, 2023 08:53 UTC