Bill Ackman's US Fund IPO Target Slashed By 90% As Pershing Square 'Specifically Disclaims' CEO's Comments

Quick Summary:

The initial public offering target for Bill Ackman‘s U.S.investment fund, Pershing Square USA, has been drastically reduced by as much as 90%.

What Happened: Ackman, a prominent billionaire hedge fund manager, has cut the fundraising goal for the IPO of his U.S.investment fund, Pershing Square USA, by up to 90%, the Financial Times reported on Thursday.

In a letter filed with the Securities and Exchange Commission, Ackman stated that he anticipates raising between $2.5 billion and $4 billion, with the possibility of increasing to $10 billion based on marketing efforts.

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Article Details

Category: InvestingBusiness

Markets: United States

Topics: Kaustubh Bagalkote Management Benzinga Bill Ackman News Markets Pershing Square IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 02:21:39 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21782157

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