Symphony International Holdings Ltd Investment in ASG Hospital Private Limited (8083M)
September 19 2019 - 1:00AM
UK Regulatory
TIDMSIHL
RNS Number : 8083M
Symphony International Holdings Ltd
19 September 2019
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
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END
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