Tags: Ackman | Pershing Square | Dutch | initial public offering

Ackman's Pershing Square Raises $3 Billion in Dutch IPO

Wednesday, 01 Oct 2014 09:31 AM

Pershing Square Holdings, a fund managed by activist investor Bill Ackman, raised $3.07 billion ahead of a stock market listing in Amsterdam, the company said on Wednesday.

The fund boosts the firepower of billionaire Ackman, famed for aggressive moves such as a $1 billion bet against U.S. nutrition firm Herbalife and a battle to broker a sale of Botox maker Allergan to Valeant Pharmaceuticals.

The fund raised $2.73 billion through an initial public offering and said the exercise of an over-allotment option would see the value of the placing rise to more than $3 billion.

The fund was priced at $25 a share, giving it a market capitalization of $6.2 billion, the company said in a statement.

Pershing Square Holdings' shares will start trading on Euronext Amsterdam on Oct. 13.

The fund is run by Pershing Square Capital Management, a North America-focused equities investment manager founded by Ackman in 2003 which had $14.1 billion in assets under management at the end of June.

© 2017 Thomson/Reuters. All rights reserved.

 
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InvestingAnalysis
Pershing Square Holdings Ltd., one of the funds managed by activist investor Bill Ackman, has raised $2.7 billion in an initial public offering in Amsterdam.
Ackman, Pershing Square, Dutch, initial public offering
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2014-31-01
Wednesday, 01 Oct 2014 09:31 AM
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