Bill Ackman's Pershing Square USA rises premarket after 18% debut-day drop

Pershing Square

30/04/2026 14:22

** Shares of closed-end fund Pershing Square USA PSUS.N up 3.2% before the bell to $42.19 a day after making their NYSE debut

** PSUS shares opened at $42 on Weds and ended session at $40.90 after billionaire investor Bill Ackman's stock-picking fund raised $5 bln, after marketing a deal initially targeting between $5 and $10 bln

** Ackman's management firm Pershing Square PS.N, which also went public on Weds, finished at $24.20. PS shares are up 7.4% at $26 premarket

** PSUS investors received one share of PS for every five PSUS shares bought in the IPO

** Closed-end funds are prone to trading at a discount to their underlying assets

** Citigroup, UBS Securities, BofA, Jefferies and Wells Fargo led an underwriting group of roughly 25 firms for the combined IPO

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))