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

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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