(Reuters) – Music investor Hipgnosis Songs Fund delayed its half-year results on Tuesday, saying the valuation it received from independent valuer was materially higher than what was implied by proposed and recent transactions in the sector.
The company, which has rights to catalogues of several artists including Shakira, Neil Young and Red Hot Chili Peppers, said its investment adviser’s opinion on the independent valuation was “heavily caveated”, and the board had concerns on the value of assets in the results for six months to Sept.
30.
The company said it expects to publish the interim results by Dec. 31.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu)
