thadani-makes-sweet-music-with-symphony-ipo

Thadani makes sweet music with Symphony IPO

In a first for Asia, the veteran Indian private equity player lists his pan-Asian fund on the London Stock Exchange.
In a remarkable development, veteran Indian private equity player Anil Thadani has listed his private equity fund, Symphony International, in London. The IPO raised $200 million through the issue of 190 million new shares, including $11 million invested by Thadani and his management team.

Turning to the equity markets for capital could be a shrewd move given the recent turmoil in the credit markets and the threat of higher future interest rates.

Following the capital raising, Symphony will be capitalised at $340 million, taking into account the $140 million the fund is already sitting on.

Merrill Lynch was sole bookrunner on the deal.

This is the first time that an Asian fund has followed the...
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