Billionaire Hedge Fund Manager Files for Fund IPO on Amsterdam Stock Exchange
An American hedge fund manager and philanthropist William Ackman filed for an initial public offering on the Amsterdam Stock Exchange.
Hedge-fund
manager William Ackman aims to raise $2 billion through the initial
public offering of one of his funds on Euronext Amsterdam in a move that
will provide it with steady capital.
Pershing
Square Holdings Ltd. said Monday that it plans to float on the
Amsterdam stock exchange for $25 a share, giving it a market
capitalization of at least $5 billion.
A big chunk of this will be issued to 30 cornerstone investors who have committed $1.5 billion to the IPO, the company said.
Pershing
Square Holdings, established in December 2012 as an offshore company,
said it had a net asset value of $2.9 billion by the end of June.
The
IPO comes as activist investors are embarking on a drive to take
advantage of their increasing clout in boardrooms and above-average
hedge-fund returns.
Source: Wall Street Journal