Ackman’s Pershing Square IPO Expected to Raise $5 Billion
Bloomberg.com • • business
Key Points:
- Billionaire Bill Ackman is planning an initial public offering (IPO) for his closed-end fund and alternative asset management company, expected to raise approximately $5 billion.
- This $5 billion figure represents the lower end of the targeted fundraising range for the IPO.
- The offering involves shares in Pershing Square USA Ltd., which also includes free shares of Pershing Square Inc.
- About 85% of the IPO is already covered by institutional investors, according to sources familiar with the matter.
- The $5 billion total includes a previously disclosed $2.8 billion private placement as per SEC filings.
