Reported 3 months ago
Hedge fund manager Bill Ackman announced that his new investment vehicle, Pershing Square USA, aims to raise approximately $2 billion in an upcoming IPO. Initially expecting to raise $25 billion, Ackman plans to sell up to 40 million shares at $50 each, beginning trading on August 6. Despite investor unease with the closed-end fund structure, Ackman's established track record and social media engagement are expected to attract retail investors.
Source: YAHOO