Ackman's Pershing Square Plans To Raise $2 Bln Through IPO In Amsterdam: Reports

(RTTNews) - Pershing Square Holdings Ltd, a fund managed by activist investor Bill Ackman, plans to raise about $2 billion from an initial public offering in Amsterdam, according to several reports. Ackman hopes that the IPO will provide him with more permanent capital.

The reports also indicated that thirty cornerstone investors have already committed funds worth $1.5 billion to the sale, and the shares are being priced at $25 per share. The company will have a market capitalization of at least $5 billion after it lists on the Euronext Amsterdam stock exchange.

Pershing Square Holdings was started in December 2012 to invest alongside other funds managed by Ackman's Pershing Square Capital Management LP. It had a net asset value of about $2.9 billion as of June 30.

Ackman, who is waging campaigns against management at Herbalife Ltd. and Allergan Inc. (AGN), has reportedly wanted to raise capital since at least 2011 to avoid a repeat of the financial crisis.