Home Market Music investment fund Hipgnosis Song plots second attempt at IPO

Music investment fund Hipgnosis Song plots second attempt at IPO

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Hipgnosis Songs will this week launch its second attempt to list in London, under plans to raise as much as £200m.

The music royalties fund created by Sir Elton Johns former manager Merck Mercuriadis is expected to announce plans for its initial public offering (IPO) today, Sky News reported today.

It is the second time the company, which invests in songs and musical intellectual property rights, has attempted to go public. Last year it aborted a plan to go public which had been delayed twice.

The prospectus for last year's float plans showed that Hipgnosis planned to invest in songs by the likes of Beyonce and Justin Bieber.

Read more: Law firm Knights raises £50m in largest-ever legal float

Mercuriadis ran record label Sanctuary Group before it was sold to Universal Music in 2007.

He has also managed the likes of Sir Elton John, the Pet Shop Boys and Joss Stone.

Sources told Sky that N+1 Singer has been lined up to oversee the IPO this year, replacing Cenkos Securities.

Read more: Sony strikes £1.7bn deal to wrestle control of iconic British music label

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