GQG Partners Inc’s Australian-listed shares fell by as much as 3% on Friday after the international investment firm pumped $1.87 billion into four companies under embattled Indian conglomerate Adani Group.
The Florida-based firm bought 3.4% of Adani Enterprises Ltd for about $662 million, 4.1% of Adani Ports and Special Economic Zone Ltd for $640 million, 2.5% of Adani Transmission Ltd for $230 million, and 3.5% of Adani Green Energy Ltd for $340 million, showed an Adani regulatory filing.
By mid-afternoon, GQG shares were off 2.6% whereas the S&P/ASX200 benchmark index was up 0.42%.
