IN BRIEF: Symphony International to sell investments to realise value
Symphony International Holdings Ltd - Asia-focused investment company focusing on healthcare, hospitality, lifestyle, logistics and education sectors - Reports updated strategy following a review by the board. Explains Symphony's share price has, over an extended period of time, continued to trade at a material discount to its net asset value. Therefore, to maximise shareholder returns, decides to take proactive steps to realise investments and for the proceeds to be returned to shareholders. Such realisations and returns will occur over the medium term, company says. Stresses there is no intention to use proceeds from realisations for any new investments. Remains confident the company's investment manager, Symphony Asia Holdings Pte Ltd, remain incentivised to maximise shareholder returns during the realisation process. Read More