16th Dec 2020 15:25
Round Hill Music Royalty Fund Ltd - private equity firm exclusively dedicated to investments in revenue generating music copyright assets - Has conditionally placed 46.1 million new shares as part of its placing programme, and will be priced at USD1.01. Will have 328.1 million shares in issue after placing programme completes. The programme follows raising USD282.0 million from its initial public offer in London in mid-November. The firm issued 282.0 million shares at USD1.00 each.
"The board is pleased to announce that the net proceeds of the further issue will ensure that the company has sufficient capital, combined with its ability to utilise gearing of up to 25% of the economic NAV, to acquire all of the pipeline investments as at the June 30 valuation," Round Hill says.
Current stock price: USD1.03
Year-to-date change: up from IPO price of USD1.00
By Paul McGowan; paulmcgowan@alliancenews.com
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RHM.L