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- Bill Ackman’s hedge fund, Pershing Square, is going public.
- The company said in a Tuesday statement that it has filed for an IPO on the NYSE.
- Pershing Square is seeking to raise at least $5 billion in the IPO, it said.
Pershing Square, the investment fund run by famed investor Bill Ackman, has filed for an IPO, it announced on Tuesday.
Ackman’s fund is planning a dual listing of Pershing Square and a closed-end investment company, Pershing Square USA, on the New York Stock Exchange.
The company is seeking to raise at least $5 billion in the IPO, it said in a statement announcing the planned listing.
“Shares are being offered at a price of $50.00 per PSUS Share and investors in the PSUS IPO will receive, for no additional consideration, 20 PSI Shares for every 100 PSUS Shares purchased,” the company said.
The planned company will be listed under the stock market tickers “PS” and “PSUS,” the statement added.
This is a developing story.
Read the full article here
