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")
20 January 2020
Exit from IHH Healthcare Berhad
Symphony International Holdings Limited (LSE: SIHL) is pleased to announce that it has fully exited its investment in IHH Healthcare Berhad ("IHH"), one of the largest healthcare providers in the world by market capitalisation with 15,000 beds across 80 hospitals in 10 countries.
Symphony invested approximately US$50 million in Integrated Healthcare Hastaneler Turkey Sdn Bhd ("IHT") in February 2012 that was converted into shares in IHH at the time of IHH's initially public offering later the same year. Symphony exited the shares in IHH through a series of partial sales since 2015 that has generated an annualised return of 11.2% over a period of approximately eight years or 1.8 times the cost of investment.
Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a Director of Symphony, said:
"Symphony completed another successful exit that has provided strong risk adjusted returns. The healthcare sector in Asia remains attractive and we will continue to explore new opportunities to strategically build on our portfolio"
For further information:
Symphony Asia Holdings Pte. Ltd. +65 6536 6177
Anil Thadani
Rajgopal Rajkumar
Dealing codes
The ISIN number of the Ordinary Shares is VGG548121059, the SEDOL code is B231M63 and the TIDM is SIHL.
The LEI number of the Company is 254900MQE84GV5DS6F03.
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
