Ackman’s Hedge Fund IPO

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

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