Hipgnosis Songs Fund Limited:
Oversubscribed Placing raising £156 million
Singer Capital Markets are delighted to have acted as Joint Corporate Broker to Hipgnosis Songs Fund Limited on an oversubscribed Fundraise of £156 million, exceeding the target amount of £150 million.
128,636,363 New Ordinary Shares have been placed to new and existing investors at a price of 121 pence per Ordinary Share.
Merck Mercuriadis, Founder of Hipgnosis Songs Fund Ltd., said:
“I am once again delighted with the support from both our existing and new shareholders with an oversubscribed raise of over $215 million, £156 million. We will deploy this immediately into our pipeline of songs and I am incredibly appreciative of the incredible songwriters who have entrusted us with their iconic works.
We will now have a portfolio of almost $2.5 billion of extraordinarily successful and culturally important songs, which offers a massive opportunity for us to add value with our Song Management which manages these songs with bandwidth and responsibility.”
About Hipgnosis Songs Fund Limited
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. The Company has raised a total of almost £1.3 billion (gross equity capital) through its Initial Public Offering on 11 July 2018, and subsequent issues in April 2019, August 2019, October 2019, July 2020, September 2020, February 2021 and July 2021.
Market Cap: £1.3 billion*
Website: Click here
*As at 07/07/2021