Pershing Square IPO Investors Post Gain After Free Shares
Bill Ackman ringing the opening bell during Pershing Square’s initial public offering at the New York Stock Exchange on April 29.
Photographer: Michael Nagle/BloombergInvestors in Bill Ackman’s new $5 billion closed-end fund ended the week with a small gain overall, once the value of the free shares they received in his asset management company is included.
The fund, Pershing Square USA Ltd., went public on Wednesday as part of a combined offering with Pershing Square Inc.