Pershing Square USA Opens 16% Below IPO Price on NYSE Debut
Pershing Square USA opened 16% below its $50 IPO price at $42 on its NYSE debut. The underperformance follows years of preparation and a $5 billion fundraising effort by Bill Ackman's hedge fund. The fund, which trades under the ticker PSUS, is a closed-end vehicle focused on large-cap North American companies.
Topics: Bill Ackman IPO NYSE debut Pershing Square USA stock price