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Adani Enterprises shares rise as airport unit begins $1 billion fundraising

Investors will subscribe to new shares in three tranches, taking about 5.5% of the airport operator after the final tranche.

Reported · Written up by our desk · Fund Industry

CNBC Finance reports that Adani Enterprises shares jumped after the company’s airport unit moved into a $1 billion fundraising process.

According to the report, investors are set to subscribe to new shares in three tranches, with the subscriptions structured to culminate in an ownership stake in the airport operator.

After the final tranche, the investors are expected to collectively own about 5.5% of the airport operator, the report said.

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