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Ackman’s Pershing Square sinks 18% on NYSE debut despite record $5B raise
business26 days ago

Ackman’s Pershing Square sinks 18% on NYSE debut despite record $5B raise

Bill Ackman’s Pershing Square USA Ltd. opened on the NYSE after a $5 billion IPO and private placement, but the shares dropped about 18% from the $50 offer price to close at $40.90; the launch, meant to give retail investors Berkshire Hathaway-like, long-term exposure via a closed-end fund, drew skepticism over the structure’s discounts and the ability to sustain returns, despite Ackman’s public push and a large following.

via New York Post|
#bill-ackman#business#closed-end-fund
Ackman Seeks Public Debut for Pershing Square with NYSE Dual Listing
business2 months ago

Ackman Seeks Public Debut for Pershing Square with NYSE Dual Listing

Hedge fund manager Bill Ackman’s Pershing Square filed to list on the NYSE with a dual listing for its common stock and PSUS, aiming to raise $5-10 billion for PSUS at $50 a share and a 20-for-100 exchange ratio, with about $2.8 billion already committed from a mix of family offices, pension funds and ultra‑high‑net-worth investors; the move would give public investors exposure to Ackman’s long‑term, Berkshire Hathaway‑inspired permanent‑capital platform.

via CNBC|
#ackman#business#ipo
Garner-backed Once Upon a Farm opens on NYSE as OFRM
business3 months ago

Garner-backed Once Upon a Farm opens on NYSE as OFRM

Jennifer Garner-backed Once Upon a Farm began trading on the NYSE as OFRM after pricing its IPO at $18, raising about $198 million and valuing the company at $724 million; the stock opened around $21 and rose intraday, as the company plans to deploy proceeds to pay down debt and fund expansion amid a shift toward organic, less-processed foods.

via CNBC|
#business#ipo#nyse
NYSE bets on 24/7 markets with tokenized securities platform
business4 months ago

NYSE bets on 24/7 markets with tokenized securities platform

NYSE, via parent ICE, is building a platform for trading and on‑chain settlement of tokenized U.S. equities and ETFs, enabling 24/7 trading, fractional shares, dollar‑denominated orders and immediate settlement with tokenized capital across multiple blockchains. The venue would be regulated and is part of ICE’s broader push toward digital market infrastructure, with banks like BNY and Citi facilitating tokenized deposits to support round‑the‑clock margin and settlement.

via The Block|
#247-trading#business#ice
finance4 months ago

NYSE Bets on 24/7 Tokenized Trading With On-Chain Settlement

The NYSE, part of Intercontinental Exchange, announced plans to develop a tokenized-securities platform that enables 24/7 trading and instant on-chain settlement, with fractional-share trading and multi-chain support, subject to regulatory approvals. The platform is designed to integrate with ICE’s broader digital strategy, including tokenized deposits and collateral, and will operate with non-discriminatory access to qualified broker-dealers.

via Business Wire|
#247-trading#finance#fractional-shares
NYSE Parent to Invest $2 Billion in Polymarket Amid Growing Prediction Market Trend
business7 months ago

NYSE Parent to Invest $2 Billion in Polymarket Amid Growing Prediction Market Trend

Intercontinental Exchange, owner of the NYSE, plans to invest $2 billion in prediction market platform Polymarket, valuing it between $8 billion and $10 billion, leading to declines in stocks of competitors DraftKings and Flutter Entertainment. The move signifies growing institutional interest in crypto-based prediction markets, despite regulatory challenges in the U.S.

via Investor's Business Daily|
#business#investment#nyse