Ackman’s Pershing Fund Seeks to Raise $2 Billion in IPO
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Pershing Square Holdings Ltd., one of the funds managed by activist investor Bill Ackman, plans to raise about $2 billion from an initial public offering in Amsterdam.
The company will have a market capitalization of at least $5 billion after it lists on the Euronext Amsterdam, Pershing Square Holdings said in a statement today. Thirty so-called cornerstone investors have already committed funds worth $1.5 billion to the sale, and the shares are being priced at $25 apiece, the statement said.