|Bid||122.40 x 0|
|Ask||122.80 x 0|
|Day's range||122.30 - 123.20|
|52-week range||113.00 - 129.90|
|Beta (5Y monthly)||0.21|
|PE ratio (TTM)||1,977.42|
|Earnings date||28 Jun 2021 - 02 Jul 2021|
|Forward dividend & yield||0.05 (4.23%)|
|Ex-dividend date||06 May 2021|
|1y target est||N/A|
Hipgnosis aims to raise £150m to buy more of ‘most influential songs of all time’London-listed music investor will issue 124m new shares, at a price of 121p a share Hipgnosis offers investors the chance to make money from the royalties of popular songs by artists such as Beyoncé. Photograph: Kevin Mazur/Getty Images for Coachella
(Reuters) -Hipgnosis Songs Fund, owner of the rights to artists including Neil Young and Shakira, is selling shares worth 150 million pounds ($211 million) to buy more songs, it said on Wednesday, as it increases its bet on a pandemic-driven boom in streaming. The planned share sale follows a similar 75-million-pound share offering by Hipgnosis in February, as well as a string of high-profile music deals by the company, including with Taylor Swift's songwriter and a producer for American heavy metal legends Metallica. "This raise gives our public markets investors ... the only chance for the next 12 months to get access to Hipgnosis' existing portfolio as well as a pipeline comprising some of the most important and successful songs of all time," founder Merck Mercuriadis said in a statement.
Hipgnosis owns nearly 65,000 songs, valued at around £1.6 billion.