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(Sharecast News) - Symphony International Holdings has fully exited its investment in IHH Healthcare - one of the largest healthcare providers in the world by market capitalisation, with 15,000 beds across 80 hospitals in 10 countries - it announced on Monday.
The London-listed firm had invested around $50m in Integrated Healthcare Hastaneler Turkey in February 2012, that was converted into shares in IHH at the time of its initial public offering later that year.
It said that it exited the shares in IHH through a series of partial sales since 2015, that had generated an annualised return of 11.2% over a period of around eight years, or 1.8 times the cost of investment.
"Symphony completed another successful exit that has provided strong risk adjusted returns," said Anil Thadani, chairman of Symphony Asia Holdings and a director at Symphony International Holdings.
"The healthcare sector in Asia remains attractive and we will continue to explore new opportunities to strategically build on our portfolio."
At 0859 GMT, shares in Symphony International Holdings were up 0.41% at 0.61p.
23 Apr 2021 16:01
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