Hipg­no­sis seeks £250m to se­cure more song cat­a­logues

The Daily Telegraph - Business - - Business -

◆ The FTSE 250 com­pany that has spent hun­dreds of mil­lions on the rights to some of the world’s big­gest pop hits aims to raise another £250m to con­tinue its buy­ing spree, writes Ben Woods.

Hipg­no­sis Songs Fund founder Merck Mer­cu­ri­adis is call­ing on in­vestors to bankroll a fresh round of deals af­ter pin­point­ing a fur­ther 50 song cat­a­logues he wants to ac­quire.

Hipg­no­sis has in­vested in ex­cess of £800m on more than 13,000 songs, in­clud­ing tracks by Ed Sheeran, Bey­oncé, Adele and the Kaiser Chiefs. It is at­tempt­ing to raise £250m by plac­ing 215m or­di­nary shares at 116p apiece.

A sep­a­rate fundrais­ing of up to £4.2m will also take place on Pri­mary Bid, a Lon­don Stock Ex­change backed plat­form hand­ing re­tail in­vestors the chance to buy into com­pa­nies rais­ing cap­i­tal.

Since list­ing in Lon­don just over two years ago, Hipg­no­sis has raised more than £860m.

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