Innovative Plus quoted Imperial Music and Media (IMM), the UK’s only publicly listed record label, has announced it will sign a major new musician in the next week.
The label’s stock spiked 35 per cent last month when it announced another signing.
A company spokesman said the new act would be a new “folk-to-mainstream” artist.
The new signing is modelled on Jamie Cullum, who was a major player in the jazz world before becoming a commercial hit. He was signed by IMM chief executive Nathan Graves, former head of jazz at Universal Music.