DUBAI, Jan 30 (Reuters) - Abu Dhabi conglomerate
International Holding Company on Monday said it will
invest 1.4 billion dirhams ($381.17 million) in Adani
Enterprises' follow-on public offer.
The Indian conglomerate owned by Asia's richest man, Gautam
Adani, has faced a deepening market rout that has led to losses
of $65 billion in the group's stock values after Adani's
rebuttal of a U.S. short-seller's criticism failed to pacify
investors.
"Our interest in Adani Group is driven by our confidence and
belief in the fundamentals of Adani Enterprises Ltd; we see a
strong potential for growth from a long-term perspective and
added value to our shareholders," IHC CEO Syed Basar Shueb said
in a statement.
IHC invested $2 billion in Adani Group companies last year,
including Adani Enterpsies.
($1 = 3.6729 UAE dirham)
(Reporting by Yousef Saba
Editing by David Goodman
)
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