Bill Ackman's 'Buffett Dream' IPO Stock Soars 40% in Two Days

Pershing Square Inc., the U.S. hedge fund manager led by Bill Ackman, closed at $39.48 on the New York Stock Exchange, marking a 41% one-day jump. Its market capitalization surged to about $15.7 billion (approximately KRW 22 trillion), with a single-day increase of roughly $11 billion (around KRW 15 trillion). Trading volume totaled 1,268,598 shares.

This rally came immediately after the firm raised about $5 billion (roughly KRW 7 trillion) through a combined IPO listing on the NYSE alongside its subsidiary Pershing Square USA (PSUS) earlier this week. Of the two—PS and PSUS—which both started below the $50 offering price, PS, the management company, staged a strong late-day rebound. (pershingsquareinc.com)

Pershing Square Inc. is a holding company overseeing Pershing Square Capital Management and operates as an alternative asset manager generating fee income from permanent capital. Ackman has outlined a long-term vision to build the firm into a publicly traded investment holding company akin to Berkshire Hathaway. (pershingsquareinc.com)