20th Jan 2020 11:42
(Alliance News) - Hong Kong-based Symphony International Holdings Ltd on Monday said it has fully exited its investment in IHH Healthcare Bhd, the healthcare provider.
The investment company said it had invested USD50 million in Integrated Healthcare Hastaneler Turkey Sdn Bhd in February 2012, which was converted into shares in IHH after its initial public offering later in the same year.
Symphony International said it has sold the shares in IHH through a series of transactions since 2015 that has generated an annualised return of 11% over eight years, or 1.8 times the cost of investment.
"Symphony International 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," said Symphony International Director Anil Thadani.
Symphony International shares were trading 2.1% higher in London on Monday at USD0.62 each.
By Evelina Grecenko; [email protected]
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