Investment in Soothe Healthcare

RNS Number : 1050B

Symphony International Holdings Ltd

05 June 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")

5 June 2019

Investment in Soothe Healthcare

Symphony International Holdings Limited (LSE: SIHL) is pleased to announce that it has, through a wholly-owned subsidiary, invested in Soothe Healthcare Private Limited ("Soothe"), a company that manufactures and distributes feminine hygiene products under the Paree and Pariz brand names predominantly in India.

Soothe was founded by Sahil Dharia in 2012 and operates within the fastest growing fast-moving consumer goods ("FMCG") market segment in India. Together with government initiatives to promote usage, growing disposable income in India is expected to drive the market size for feminine hygiene products over the coming decades. Symphony has entered into agreements that will provide a significant minority position in Soothe when fully completed, which will represent around 1% of Symphony's NAV. 

Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a Director of Symphony, said:

"We are excited with this opportunity to support a talented management team to expand a business in a fast growing market segment. Soothe fits well within our portfolio and core geographic focus and we look forward to working with Sahil and his team"

For further information:

Anil Thadani                                             [phone]

Symphony Asia Holdings Pte. Ltd.

Numis Securities Limited:

Hugh Jonathan                                          [phone]

Nathan Brown

About Symphony

Symphony is a London listed strategic investment company that invests in a wide variety of businesses in the healthcare, hospitality and lifestyle ("HH&L") sectors (including branded real estate developments), which are principally in Asia. It offers a way for investors to gain exposure to businesses that benefit from the rising disposable incomes and wealth creation in the fast growing economies of Asia. Symphony's objective is to provide superior capital growth by investing in high quality companies and forming long-term business partnerships with talented entrepreneurs. Symphony is managed by Symphony Asia Holdings Pte. Ltd., which has a team of investment professionals with a broad range of expertise - many of them have been working in Asia for more than 25 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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