Hipgnosis Songs Fund back for more with £250m share sale

Hipgnosis_Motley_Crue_PA_575_375
By Aidan Gregory
21 Sep 2020

Hipgnosis Songs Fund, the London-listed investment trust focused on music royalties, has returned to the equity capital markets with a new £250m share sale after rapidly deploying the proceeds of its last capital raising in July.

In a regulatory filing on Monday, Hipgnosis said it intends to sell up to 215.5m new shares at 116p a share. That is a 7.9% discount to the closing price of the stock on Friday. There is also a retail offer of around 3.6m shares via PrimaryBid, the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial