With 40 million shares priced at $50 each, hedge fund manager Bill Ackman hopes to generate $2 billion through Pershing Square USA’s IPO.
Its underwriters would also have the opportunity to buy up to 6 million more shares. Taking the shape of a closed-end fund, the Pershing Square USA IPO is anticipated to own many of the same holdings as Ackman’s other ventures.
In Europe, Pershing Square also offers a closed-end fund that trades below its net asset value.
The initial public offering was postponed on Friday, but it was anticipated to take place early this week. Pershing Square originally aimed to raise as much as $25 billion.
Source (CNBC)
