(Sharecast News) - Round Hill Music Royalty Fund has announced its intention to float on the London Stock Exchange's specialist fund segment.
The company, which invests primarily in what it termed as high-quality music intellectual property, said it would sell 375m ordinary shares via a placing and parallel offer for subscription at $1.0 each.
Its objective was to invest in a songwriter's copyright interest and in the rights to the recording of the musical composition or song, known as the master recording rights.
The Guernsey incorporated company was founded in 2010 and was already the seventh largest music publishing company in the States.
Managament had already identified a "seasoned" portfolio of iconic catalogues "with established state revenues" which it intended to purchase with the proceeds from its initial public offering.
Those so-called Pipleine Investments included over 120,000 songs from artists such as The Beatles, Celine Dion, The Rolling Stones, Louis Armstrong, Marvin Gaye, Elvis Presley, Percy Sledge, Bush, James Brown, Bonnie Tyler, The Supremes, Meat Loaf, Backstreet Boys, The Offspring, Phil Collins, George Harrison.
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