Update: Music trust Hipgnosis Songs delays IPO for second time

To allow for completion of due diligence

The Hipgnosis Songs fund, a specialist investment company investing in songs and musical intellectual property rights, has delayed its plans for a £200m initial public offering for a second time, now expected on the 12 September.

The trust was scheduled to be listed on the LSE Main Market on 10 July, but this had been postponed until 1 August to "enable an additional cornerstone investor to finalise due diligence". In an update, the board said the listing had been postponed further as "potential additional cornerstone investors continue to undertake due diligence on the company".  Hipgnosis Songs fund will invest in songs and musical intellectual property rights which involves acquiring songs and enabling investors to benefit from the royalties and related income. Barry McGuigan-backed boxing EIS fund launc...