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Round Hill Music IPO raises $282m

Round Hill Music Royalty Fund’s IPO has raised gross proceeds of US$282m. An application has been made for the admission of its shares to the specialist fund segment of the main market on the LSE, which is expected to occur at 8:00 am 13 November 2020.

The company’s investment objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. The company will invest in a songwriter’s copyright interest in a musical composition or song (being their writer’s share, their publisher’s share and their performance rights) together with the rights in the recording of the musical composition or song (known as the master recording rights) together with all such rights and assets considered by its investment manager, Round Hill Music LP.

Trevor Bowen, chair of the company, had this to say: “I am delighted to announce the successful IPO. When considered against the global turbulence prevalent during the IPO process due to COVID-19, this achievement clearly demonstrates a strong investor appetite for both the music royalty asset class, the performance of which is highly uncorrelated to movements in the global economy, and the recognised expertise of the Round Hill team as an investment manager in this sector.

The company has an identified portfolio of exceptional songs and catalogues including classic tracks from some of the world’s best-known artists that are already extremely familiar to the investment manager. We will actively progress and update on our intention to purchase the identified portfolio for the company as soon as practical.”

Readers interested in reading the company’s prospectus can do so by clicking here to access our news coverage from 19 October.

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