CMG - IPO Alert: You'll Soon Be Able to Invest Alongside Billionaire Bill Ackman
2024-07-12 06:21:00 ET
Billionaire investor Bill Ackman is planning to create a new publicly traded investment fund and is kicking off a pre-IPO roadshow to build investor interest. The new fund will be called Pershing Square USA and will list on the New York Stock Exchange under the ticker symbol PSUS.
According to regulatory filings, we know that the IPO price of the fund will be $50 per share. Investors will be required to purchase a minimum of 100 shares, so there will effectively be a $5,000 minimum initial investment.
This will be a unique investment vehicle. It's important to note that this is not an IPO of Bill Ackman's well-known Pershing Square hedge fund, which owns stakes in companies such as Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Chipotle (NYSE: CMG) . Rather, Pershing Square USA will be a new closed-end fund .
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IPO Alert: You'll Soon Be Able to Invest Alongside Billionaire Bill Ackman