Investment in MAVI Holding Pte. Ltd. ("MAVI")

RNS Number : 0119N

Symphony International Holdings Ltd

18 January 2023

 

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" or "SIHL") Announces Investment in MAVI Holding Pte. Ltd. ("MAVI")

18 January 2023

Symphony International Holdings Limited (LSE: SIHL) is pleased to announce an investment in MAVI Holding Pte. Ltd. ("MAVI"), an Asia-Pacific focused service and solutions provider for the insurance and automotive industry protecting and enhancing customers' lifestyle through innovative products and services.

The parent company, MAVI, includes Biometric Asia with subsidiaries in India and Singapore and Mavi Automotive with footprints in India & Thailand.

Biometric Asia operates in the space of Disability and ageing solutions protecting income and societal inclusion plus developing care programs and lifestyle services including digital customer engagement . It partners with leading insurers in Asia.

MAVI Automotive provides After-sales and customer experience programs for leading automotive OEMs, their dealer & repairer network improving customer lifestyle & loyalty .

The capital infusion will go towards setting up the infrastructure for customer fulfilment, achieving operational efficiency, creating digital assets and driving the growth of both Biometric Asia as well as MAVI Automotive.

Manfred Schmoelz, Co-founder and Managing Director of MAVI said: "We are excited to have Symphony on board as an investor, and we are looking forward to a long-term association between our organisations. The funds we have raised will help us reach our goal of becoming leaders within the specialised segments we are operating through investment in our infrastructure and technology."

Vivek Burman, Co-founder and Managing Director of MAVI said: "Both the insurance and automotive services are at an unique stage of growth and shifting consumer perspectives, and our goal is to create new products and services to help our clients grow and attract a critical market share. Our current product offerings are a result of the changing lifestyle of consumers and in creating new demands in both the healthcare as well as the automotive sectors. "

Anil Thadani, Chairman of Symphony's Manager, said: "With this new partnership, we are delighted to increase our participation in  the new consumer growth story in India, Singapore and Thailand through MAVI's varied tech-enabled consumer offerings, with care and service at the heart of the brand. We look forward to our partnership with Manfred & Vivek and their team as they continue to innovate their way into being one of the top  brands in the markets they are in."

About Mavi Holding

MAVI (the corporate brand of Mavi Holding Pte. Ltd.) is a service and solutions provider for the insurance and automotive industry protecting and enhancing customers' lifestyle . MAVI's vision is to become Asia Pacific's largest tech-driven specialised insurance and automotive services provider and customer engagement company with focus on excellence.

You can visit  https://mavi-holding.com  and  https://biometric.asia/ for more on MAVI's brands.

For further information:

Symphony Asia Holdings Pte. Ltd.   [phone]

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, education and other sectors, including businesses that are technology-enabled and based 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 35 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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