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Hipgnosis Songs shares jump 8% after Shot Tower Capital values portfolio at over $1.9bn
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Based on the firm's final valuation report published today (28 March), the trust's fair market value represents a multiple of 16 times retained net revenue as of 30 June 2023, after royalty and administration costs. The concluded fair market value represents an approximate 26% decrease in portfolio valuation, compared to the previous valuation as at 30 September 2023. Shot Capital's report, which was conducted in partnership with BDO and Reed Smith, details that Hipgnosis Song Management (HSM), the trust's investment adviser, applied revenue recognition policies and accrual estimates...
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