Mobius says sensible of Adani to call off share sale, full disclosure needed
NEW DELHI (Reuters) - Mark Mobius, founder of Mobius Capital Investors, told Reuters on Thursday that it was sensible for the Adani Group to cancel its $2.5 billion share sale.
"Probably they will try to answer all the accusations and reschedule the share sale," said Mobius, a veteran emerging markets investor, adding that "a full disclosure of balance sheets and particularly details regarding debtors" was necessary.
"Of course, if regulators and other authorities weigh and make some negative comments, then we will be in another game," he said.
Adani Group flagship firm Adani Enterprises' called off its $2.5 billion stock offering, sending its shares plunging further on Thursday and adding to worries about the conglomerate's debt levels and potential systemic impact.
(Reporting by Sinead Cruise in London; writing by Tanvi Mehta; editing by Jason Neely)