Advertisement
UK markets open in 4 hours 57 minutes
  • NIKKEI 225

    38,328.23
    +125.86 (+0.33%)
     
  • HANG SENG

    18,372.50
    +58.64 (+0.32%)
     
  • CRUDE OIL

    79.29
    +0.30 (+0.38%)
     
  • GOLD FUTURES

    2,318.00
    -4.30 (-0.19%)
     
  • DOW

    39,056.39
    +172.13 (+0.44%)
     
  • Bitcoin GBP

    49,238.89
    -831.14 (-1.66%)
     
  • CMC Crypto 200

    1,309.07
    +14.40 (+1.11%)
     
  • NASDAQ Composite

    16,302.76
    -29.80 (-0.18%)
     
  • UK FTSE All Share

    4,544.24
    +21.25 (+0.47%)
     

Ackman's Pershing Square raises $3 bln in fund listing

(Adds details, background)

LONDON, Oct 1 (Reuters) - 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 (NYSE: HLF - news) and a battle to broker a sale of Botox maker Allergan (NYSE: AGN - news) 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.

ADVERTISEMENT

The fund was priced at $25 a share, giving it a market capitalisation 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. (Reporting by Francesco Canepa and Nishant Kumar; editing by David Clarke)