Bill Ackman's Pershing Square Withdraws Planned IPO

Pershing Square USA is withdrawing a planned initial nationalist offering (IPO), CEO Bill Ackman said Wednesday.

“Over nan past 7 weeks, we person met pinch galore institutions and family offices, and held galore municipality halls for Pershing Square USA” Ackman said. “While we person received tremendous investor liking successful PSUS, 1 main mobility has remained: Would investors beryllium amended served waiting to put successful nan aftermarket than successful nan IPO?”

“This mobility has inspired america to reevaluate PSUS’s building to make nan IPO finance determination a straightforward one. We will study backmost erstwhile we are fresh to motorboat a revised transaction,” he added. 

The announcement follows Monday's news that nan closed-end fund's offering would raise astir $2 billion, acold little than nan $25 cardinal initially expected.

The IPO market, which picked up successful nan first half of 2024, is facing uncertainty pinch cooling ostentation information and nan 2024 statesmanlike predetermination connected nan horizon. Earlier this month, ticketing supplier StubHub reportedly delayed its IPO plans until astatine slightest September. Cold-storage institution Lineage (LINE) past week became nan biggest IPO of nan twelvemonth truthful far.