Symphony International, which invests in consumer-related businesses, primarily in the healthcare, hospitality, and lifestyle sectors, is replenishing its war-chest through a rights issue.
The group is planning to raise around $100m through a fully underwritten rights issue on the basis of 0.481 new shares at 60 cents per share for every one share currently held.
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If the demand is there, Symphony said the size of the issue may be increased.
The firm's Investment Manager is currently exploring 15 potential investments in the healthcare, hospitality, and lifestyle sectors with an aggregate investment value of up to $1.28bn, or thereabouts, hence the need for more funds. The Investment Manager believes that the investment opportunities should be able to generate attractive returns for the company.
Shares in Symphony eased by a cent to 66 cents in morning trading.
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