IPOs

ubs1 3.13.35 PMBased on a judge’s ruling today. Read more »

The thrill of the IPO, it seems, goes only so far. Read more »

Hedge fund mogul Bill Ackman has raised a record $2.7 billion for his hedge fund IPO that will start trading on the Amsterdam stock exchange later this month. Ackman set out to raise $2 billion, but the deal’s underwriters told their clients Tuesday night that the IPO was oversubscribed and to expect the size of their orders to be scaled back. The offering is expected to hit $3.07 billion, once the “green shoe” overallotment of 10 percent is exercised. Pershing Square Holdings — the offshore fund that is going public on Oct. 13 — will start with $6.2 billion, the largest such IPO ever…The IPO will give him more firepower to take on activist campaigns because Pershing Square’s permanent capital will be equal to almost half its total. [NYP]

  • 24 Sep 2014 at 11:25 AM

Good News Keeps Rolling In For The British

First, they got to keep their country intact. Now, their IPO market is heating up. Will the good times ever stop?* Read more »

Cory Frugé is a pilot and an Alibaba enthusiast—an enthusiasm that stems from his being a pilot and his love of the cheap lighting solutions the Chinese company provided him for his backyard runway. Unfortunately for Capt. Frugé, he had planned a vacation to the Florida Panhandle the very day of Alibaba’s IPO. This was distressing to Capt. Frugé, and so he did the reasonable thing: He told his investment adviser to buy him shares when they became available.

He then also did the unreasonable thing: Sat around waiting for Alibaba shares to begin trading, delaying his flight to do so, even though he had put in place the aforementioned arrangement. Then, he got impatient and took off just in time to be 10 minutes late for the big moment. Which, again, didn’t matter, because he had already placed his order. Read more »

Most especially how it will not fuck it up, just like it did not fuck up the Twitter IPO. Read more »

Alibaba’s not going to say it has zero faith in the Nasdaq following its not so great handling of the Facebook IPO but it’s not not going to say it has zero faith in the Nasdaq following its not so great handling of the Facebook IPO. Read more »