Hipgnosis Songs Fund attracts strong demand for £236m share sale

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By Aidan Gregory
13 Jul 2020

Hipgnosis Songs Fund, the FTSE 250 investment company focused on music royalties, has completed its latest capital increase, as it gears up for a spree of acquisitions.

The fund, which was founded by Canadian music manager Merck Mercuriadis, raised £236m, up from the initial target of £200m, due to strong demand from investors. There was a retail offer via PrimaryBid, which raised £3m.

At the 100p offer price, investors received a 13.8% discount ...

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