26th Feb 2020 13:36
(Alliance News) - Hipgnosis Songs Fund Ltd said Wednesday it has invested 95% of the GBP231 million 'C' shares fundraising in October and is now contemplating a new equity rise.
In late September, the music catalogue investor said it wanted to raise GBP300 million as it targeted an "attractive" pipeline of music catalogues.
Meanwhile in October, the company announced it raised GBP231 million, placing 231 million new 'C' shares at a price of 100 pence each.
In January, the company acquired music catalogue of songwriter and producer Brian Higgins and music catalogue from award-winning songwriter Ammar Malik, bot for undisclosed sums.
Also in January Hipgnosis bought music catalogue from Lana Del Rey album producer Emile Haynie and from the singer-songwriter & Blink-182 co-founder Tom DeLonge for an undisclosed sum.
The company said it is now contemplating a further equity raise to "fund investments in line with its investment policy, with a view to delivering further value for its shareholders."
Hipgnosis shares were trading 0.9% lower in London at 106.05 pence each on Wednesday.
By Loreta Juodagalvyte; [email protected]
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