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Adani Group continues investor roadshow in Hong Kong

The crisis-ridden Adani Group is transferring an investor roadshow to Hong Kong Tuesday, persevering with its appeal offensive to ease issues approximately its monetary fitness and company governance triggered via way of means of a short-seller`s allegations.

The -day roadshow in Hong Kong follows a chain of investor conferences on Monday in Singapore, in which executives stated the Indian conglomerate has sufficient cash to pay off debt due over the subsequent 3 years further to an $800 million credit score facility.

This week`s conferences withinside the Asian monetary hubs mark the ultra-modern attempt via way of means of billionaire Gautam Adani`s institution to reassure buyers after US-primarily based totally Hindenburg Research accused it of accounting fraud and inventory manipulation. While a set of rescue moves, from slicing fees to early debt repayment, have helped pull maximum Adani bonds from distressed territory, they stay underneath ranges visible earlier than the short-seller`s Jan. 24 report. A inventory selloff additionally has extended.

The ports-to-strength conglomerate has again and again denied the allegations.Even as the various institution`s as a minimum 15 greenback bonds have rebounded from current lows, they may be nonetheless approximately 5% to 18% decrease than in which they have been earlier than Hindenburg launched its report, amounting to a mixed lack of approximately $800 million, in line with Bloomberg-compiled data.

Monday`s conferences happened at a inn in Singapore, with assist from approximately a dozen worldwide banks. Attendees have been presented a more-than-10-web page presentation on subjects starting from profits to the debt adulthood profile, in line with files acquired via way of means of Bloomberg. Some of these in attendance raised issues over a number of the debt and the current volatility of bond prices, the buyers stated.

At least of the buyers in attendance advised Bloomberg they`ve been shopping for Adani bonds, bringing up the institution`s credit score high-satisfactory subsidized via way of means of cash-producing assets. Two others, however, stated they have been careful approximately new debt investments withinside the institution till company governance troubles have been resolved.

The roadshow will keep in Hong Kong on Tuesday and Wednesday, on the workplace of Barclays Plc.Separately, the asset control unit of JPMorgan Chase & Co. has wiped its ESG portfolios smooth in their publicity to the Adani empire.


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