Selloff Risk Looms as MSCI Reviews ‘Free Float’ of Adani Stocks
- MSCI to announce any changes in quarterly review due Thursday
- Any negative decision may end nascent rebound in group stocks
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MSCI Inc. is reviewing the amount of Adani Group-linked shares freely tradable in public markets, after receiving investor feedback on the eligibility of the embattled Indian conglomerate’s securities in its indexes.
“MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float pursuant to our methodology,” the index provider said in a statement dated Wednesday. “This determination has triggered a free float review of the Adani Group securities.”