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Abu Dhabi-based Diversified Enterprises International Holdings announced on Monday that it will invest approximately US$400 million (AED1.4 billion) in the follow-on public offering (FPO) of Adani Enterprises through its subsidiary Green Transmission Investment Holding RSC Limited. Adani The FPO of Nigerian Group companies opened for subscription on January 27 and will run until January 31.
Adani Enterprises has filed a red herring prospectus with market regulator Securities and Exchange Board of India (SEBI) for a follow-on public offering (FPO) of Rs 20,000 crore. In a press release, IHC said the investment is its first this year as it intends to scale up and diversify its investments locally and internationally, focusing in 2023 on Europe, Africa, Asia and South American market.
Syed Basar Shueb, Chief Executive Officer, said: “Our interest in Adani Group stems from our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see strong potential for growth over the long term and add value to our shareholders .” , Immunohistochemistry. The press release added that this is the second investment deal that the international holding company has completed with India’s Adani Group, following its $2 billion investment last year in Adani Green Energy, three of the group’s green-focused public companies. , Adani Transmission and Adani Enterprises.
“The advantages of an FPO are historical references to corporate earnings reports, corporate governance, business practices, and a wealth of data that can be consulted before making any investment decisions,” Shueb added. IHC continues to look to the future this year as its ambitious growth strategy is well underway, with further acquisitions expected on four continents by the end of this year alone, the release said.
UAE-based IHC aims to increase its global acquisitions by 70% by 2023, with the clean energy and food processing industries being key areas of focus. “We are closely monitoring new prospects in international markets, and we will continue to explore additional opportunities outside our traditional markets in 2023,” Shueb said. (Arnie)
(This story was not edited by Devdiscourse staff and was automatically generated from a syndicate feed.)
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