Bill Ackman's New Fund Falls 6% In Public Debut In Amsterdam

Hedge fund manager Bill Ackman's Pershing Square Holdings fell nearly 7% in its debut as a public company on Monday. The new company was listed in Amsterdam at an offering price of $25 a share, valuing it at $6.2 billion. Ackman formed the new public company to raise permanent capital and prevent investors running for the exits too quickly. The new company, listed under the ticker 'PSH', raised approximately $2.73 billion through the IPO. The hedge fund billionaire is currently embroiled in a battle with Herbalife Inc. , which he alleges is a Ponzi scheme. Other bets include his bid with Valeant Pharmaceuticals for Allergan Inc. , maker of Botox. The new listing is a separate entity to Ackman's Pershing Square Capital Management, which has approximately $14 billion under management.