Bill Ackman's IPO for Pershing Square USA Ltd. Underperforms on Debut
Pershing Square USA Ltd., a closed-end fund managed by billionaire Bill Ackman, opened below its $50 IPO price and fell 18% to close at $40.90 on April 29. The stock remained underperforming despite an incentive offering one share of Pershing Square Inc. for every five PSUS shares purchased.
Topics: Bill Ackman closed-end fund IPO Pershing Square USA Ltd.