Pershing Square, the US hedge fund firm led by Bill Ackman, has launched a roadshow for the initial public offering (IPO) of its common shares of beneficial interest of a new investment holding company with an expected IPO price of $50.00 per share.

According to a press statement, Pershing Share, which intends to apply to list the shares on the New York Stock Exchange under the symbol PSUS, will "invest the net proceeds of the IPO in accordance with its investment objective and policies".

Citigroup, UBS Investment Bank, BofA Securities and Jefferies are acting as global coordinators and bookrunners for the IPO, while Wells Fargo Securities, RBC Capital Markets, BTG Pactual, Barclays, and Deutsche Bank Securities are acting as bookrunners for the IPO.

Academy Securities, Janney Montgomery Scott, Loop Capital Markets, Oppenheimer & Co, Roberts and Ryan, Stifel and Wedbush Securities are acting as co-lead managers for the IPO, with Aegis Capital Corp, AmeriVet Securities, CL King & Associates, CastleOak Securities, Chardan, Clear Street, Hilltop Securities, InspereX, R Seelaus & Co, Ramirez & Co, Siebert Williams Shank, SoFi and Tigress Financial Partners all acting as co-managers for the IPO.

A registration statement on Form N-2 relating to the Common Shares has been filed with the US Securities and Exchange Commission (the “SEC”) but has not yet become effective. The Common Shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The IPO will be made only by means of a prospectus.