Pershing Square USA Raises $5bn IPO

Pershing Square USA raised about $5 billion gross via a combined IPO and share placement in the United States.
The fund will list on NYSE under ticker PSUS, while management company Pershing Square Inc will trade as PS.
Offering was oversubscribed, with more than 85% of orders coming from institutional investors, making it the largest closed‑ended fund IPO.
Pershing Square Holdings, the London‑listed closed‑end fund, has risen nearly 53% over the past five years.