Hipgnosis Songs Fund Ltd raises £231m to acquire more catalogues

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By Aidan Gregory
17 Oct 2019

Hipgnosis Songs Fund Ltd, the London-listed fund that invests in music catalogues, has concluded its share sale, which the company announced last month to finance the acquisition of new song rights.

JP Morgan and N+1 Singer were bookrunners on the placing, which consisted of 231m new shares at a fixed offer price of 100p a share, raising £231m.

The final amount raised is below the maximum £300m target outlined when the deal was launched in late September.

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