8th Oct 2019 13:42
(Alliance News) - Hipgnosis Songs Fund Ltd said Tuesday that London & Johannesburg-listed wealth management firm Quilter PLC now holds a 7.3% stake in the music catalogue investment firm.
Quilter's previous holding in Hipgnosis, if any at all, was not disclosed.
In late September, Hipgnosis said it was looking to raise around GBP300 million before expenses through a C share issue, which would go towards acquiring an "attractive pipeline of catalogues".
Hipgnosis expects to publish the results of the issue on Thursday next week.
Shares in Hipgnosis were down 0.2% at 107.24 pence on Tuesday in London. Quilter's London shares were 1.1% lower at 127.00p, while its Johannesburg shares were 1.1% lower on ZAR23.72.
By Dayo Laniyan; [email protected]
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