Shah Capital Fund became the largest institutional investor in Hong Kong-based Symphony Holdings this week. Symphony Holdings is a marketer and licensor of sports and recreation footwear and apparel, with stakes in worldwide consumer brands like Pony, Haggar, Speedo, Mango, Helly Hansen, Berghaus, JFT Holdings (Toyota Tsusho) and controls about two-percent of the worldwide athletic shoe market.
"The current market conditions have created significant investment buying opportunities in China,вЂќ said Himanshu Shah, president and chief investment officer of Shah Capital Management. вЂњAs you look at markets from a global perspective, Symphony Holdings has tremendous growth opportunities and is in a premier position to be a Gateway to China for Western sports, activewear, and fashion brands.вЂќ
вЂњWe are pleased to see Shah Capital as a large investor in Symphony Holdings,вЂќ said Dr. Ting Ho, executive director of Symphony Holdings.
вЂњWe look forward to working with them in a constructive manner to enhance value for all stakeholders.
вЂњSymphony Holdings is a tremendously undervalued franchise with many underlying operational strengths,вЂќ said Shah. вЂњWe have been following the company for more than three years, and believe fits perfectly into our investment strategy.вЂќ