Pershing Square IPO Investors Post Gain After Free Shares
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Investors in Bill Ackman's $5 billion closed-end fund, Pershing Square USA Ltd., saw a small overall gain after including the value of free shares from Pershing Square Inc. The fund went public at $50 but ended the week at $42.80, 14% below the offering price. While the fund's shares rose 0.2% on Friday, Pershing Square Inc. surged 35.7% to $37.99. Investors who bought five shares received one bonus share, resulting in a 0.8% gain, while strategic investors with a $3 billion commitment saw an 8.4% increase overall.
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