Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.
Symphony International Holdings Limited ("Symphony")
19 September 2019
Investment in ASG Hospital Private Limited
Symphony International Holdings Limited (LSE: SIHL) is pleased to announce that it has, through a wholly-owned subsidiary, entered into a transaction for an investment in ASG Hospital Private Limited ("ASG"), a full service eye-healthcare provider with operations in India, Africa and Nepal.
ASG was co-founded in Rajasthan, India in 2005 by Dr. Arun Singhvi and Dr. Shashank Gang. ASG's operations have since grown to 33 clinics, which offer a full range of eye-healthcare services, including outpatient consultation and a full suite of inpatient procedures (cataract, retina surgeries, Lasik, glaucoma, cornea and other complicated eye surgeries). ASG also operates an optical and pharmacy business, which is located within clinics.
Symphony is investing alongside Foundation Holdings, a global investment firm focused on building sustainable, industry defining companies in India and GCC's healthcare and education sectors. Symphony and Foundation are, in equal proportion, investing in ASG. Symphony will have a significant minority interest in ASG at a cost of less than 5% of NAV.
Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a Director of Symphony, said:
"We are excited with the opportunity to partner with Dr. Arun Singhvi and Dr. Shashank Gang to further build the ASG business. The Symphony management team have extensive experience investing in and building healthcare businesses and we look forward to adding value with Foundation Holdings to the ASG business"
For further information:
Anil Thadani +65 6536 6177
Symphony Asia Holdings Pte. Ltd.
Numis Securities Limited:
Hugh Jonathan +44 (0) 20 7260 1000
Nathan Brown
About Symphony
Symphony International Holdings Limited (LSE:SIHL) is a London listed strategic investment company that invests in consumer related businesses, primarily in the healthcare, hospitality, lifestyle (including branded real estate developments), logistics and education sectors predominantly in Asia. It offers a way for investors to gain exposure to rising disposable incomes and wealth in fast growing economies. Symphony's objective is to provide superior capital growth by investing in high quality companies and form long-term business partnerships with talented entrepreneurs and management teams. Symphony's investment team has a broad range of expertise - many of its professionals have been working in Asia for more than 30 years. For more information please visit our website at www.symphonyasia.com.
No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.
This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.
This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.
The Company and the Investment Manager are not associated or affiliated with any other fund managers whose names include "Symphony", including, without limitation, Symphony Financial Partners Co., Ltd.
End of Announcement
