That figure is slightly higher than the £150 million ($210m) Hipgnosis targeted with its announcement of the share placing in June. Why? Because the raise was over-subscribed, thanks to what Hipgnosis says was “significant demand from existing and new investors”. The over-subscribed offer of new shares significantly boost warchest of acquisitive UK-listed firm.
Source: Hipgnosis Songs Fund raises $215m with new share placing – as investor demand exceeds target