From Bloomberg Markets and Finance.
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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