Hipgnosis mulls new share sale after acquiring Cher hits

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By Aidan Gregory
26 Feb 2020

Hipgnosis Songs Fund Ltd, the London-listed fund that invests in music royalties, is considering another equity capital raising to finance its investment pipeline, only four months after it last raised £231m ($297.45m). In January, the fund acquired an extensive song catalogue, including 'Believe' by Cher.

Almost all of the proceeds from the last capital increase have now been invested, Hipgnosis said in a regulatory filing on Wednesday. As a result, the company is “now contemplating a further equity raise” under the placing programme it outlined in September.

The proceeds of a new capital ...

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