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Pin to quick picksHipgnosis Songs Share News (SONC)

Share Price Information for Hipgnosis Songs (SONC)

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Hipgnosis Songs C shares is an Investment Trust

To provide shareholders with an attractive and growing level of income, together with the potential for capital growth, from investment in songs and associated musical intellectual property rights.

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Hipgnosis Songs Fund raising £200m in placing, opens retail offer

Thu, 02nd Jul 2020 08:02

(Sharecast News) - Music intellectual property investor Hipgnosis Songs Fund announced placing on Thursday, aiming to raise £200m to fund further acquisitions of "hit songs" over the next three months.
The FTSE 250 company said it was being conducted under its existing placing programme, in accordance with the prospectus it published on 27 September 2019.

At the same time, it announced a retail offer of new shares via PrimaryBid, at a price of 100p each.

It said the net proceeds of the issue would be used to fund further acquisitions in line with its investment policy, to create further value for shareholders.

That was also expected to expand the diversity of the Hipgnosis portfolio and income streams, with the board anticipating deployment of the net proceeds within three months.

"I founded Hipgnosis to give the investment community access to the predictable and reliable income that comes from successful hit songs and to establish songs as an uncorrelated asset class," said chief executive officer Merck Mercuriadis.

"To date we have been backed with over $1 billion in investments by more than 50 of the most reputable institutional investors in the world.

"This is the first time we have put focus on the retail sector, having become not only a FTSE 250 company but also the 58th biggest yielder in the index."

At 0815 BST, shares in Hipgnosis Songs Fund were up 0.43% at 116.5p.
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8 Dec 2022 08:46

Hipgnosis sees revenues sing despite cost of living squeeze

(Sharecast News) - Hipgnosis Songs Fund reported a jump in half-year revenues on Thursday, boosted by strong growth in streaming.

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12 Oct 2021 14:39

Hipgnosis manager enters $1bn partnership with Blackstone

(Sharecast News) - Music intellectual rights specialist Hipgnosis Song Management and NYSE-traded investment manager Blackstone announced a new partnership on Tuesday, backed by funds managed by Blackstone, which would initially deliver $1bn (£0.73bn) to acquire music rights and manage catalogues.

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13 Jan 2021 08:06

Hipgnosis buys rights to Shakira's entire catalogue

(Sharecast News) - Song and music intellectual property investor Hipgnosis Songs Fund has acquired a catalogue from Latin music artist Shakira, it announced on Wednesday, for an undisclosed sum.

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24 Aug 2020 07:28

Hipgnosis buys 50pc rights to RZA's catalogue

(Sharecast News) - Hipgnosis Songs Fund has acquired 50% of the copyright interest and writers share in the song catalogue of hip hop artist, songwriter and producer, and leader of Wu-Tang Clan, Robert 'RZA' Diggs, it announced on Monday.

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29 Jul 2020 08:03

Hipgnosis acquires music catalogue of Grammy winner Rodney Jerkins

(Sharecast News) - Intellectual property investor Hipgnosis Songs Fund has bought the music catalogue of Grammy-winning rapper, producer, composer and songwriter Rodney "Darkchild" Jerkins.

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23 Jul 2020 10:33

Hipgnosis increases credit facility, converts it to US dollars

(Sharecast News) - Music intellectual property investor Hipgnosis Songs Fund has agreed to increase its revolving credit facility from £150m to $400m (£314.54m), with a syndicated group of lenders led by JPMorgan Chase Bank.

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12 Jun 2020 07:59

Hipgnosis mulls equity raising to fund £1bn of song deals

(Sharecast News) - Hipgnosis Songs Fund said it was considering raising capital from shareholders as it discusses acquisitions of song catalogues worth more than £1bn.

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30 Mar 2020 07:58

Bon Jovi's Richie Sambora sells his songs to Hipgnosis

(Sharecast News) - Hipgnosis Songs Fund has agreed a deal with former Bon Jovi guitarist Richie Sambora to buy his royalties for songs such as Livin' on a Prayer and You Give Love a Bad Name.

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20 Dec 2019 15:00

Hipgnosis Songs Fund buys catalogue of songwriter Savan Kotecha

(Sharecast News) - Hipgnosis Songs Fund has acquired a music catalogue from Savan Kotecha, an Indian-American songwriter and producer whose songs have been nominated for 17 Grammy Awards, and who has just been named Music Week's 'Songwriter Of The Year' for 2019, it announced on Friday.

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