On the rare news-day when we don’t have a Hipgnosis catalogue acquisition to report, it feels like there’s often news of the company raising more money for its next swathe of deals instead.
On Friday, Hipgnosis announced that it had raised £75m (around $103m) through its latest sale of shares, with MBW reporting that Morgan Stanley Investment Management led the round, with existing investors chipping in for the rest. “It means that not only does Hipgnosis have access to Morgan Stanley money, but that UK-listed Hipgnosis has also, for the first time, welcomed a US-based institutional investor into its business,” it reported.
The sale is just the start of Hipgnosis’s money-raising plans for 2021 though: a recent prospectus published by the company laid out its intentions of raising more than $2bn through issuing shares this year.
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