Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses how much Bill Ackman's Pershing Square IPO is expected to raise.
Billionaire Bill Ackman’s IPO of his closed-end fund and his alternative asset management company is expected to raise about $5 billion, according to people familiar with the matter, the low end of the targeted fundraising range.
The deal is expected to to stop taking orders at 4 p.m. New York time on Monday and to price on April 28 as scheduled, the people said. The IPO was targeting as much as $10 billion, according to an earlier statement. The private placement funds are contingent on raising a minimum of $5 billion, Ackman said in an investor presentation.
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Billionaire Bill Ackman’s IPO of his closed-end fund and his alternative asset management company is expected to raise about $5 billion, according to people familiar with the matter, the low end of the targeted fundraising range.
The deal is expected to to stop taking orders at 4 p.m. New York time on Monday and to price on April 28 as scheduled, the people said. The IPO was targeting as much as $10 billion, according to an earlier statement. The private placement funds are contingent on raising a minimum of $5 billion, Ackman said in an investor presentation.
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