Bill Ackman’s Pershing Square looks to raise up to $2 billion in U.S. listing

(Reuters) -Billionaire Bill Ackman’s Pershing Square is looking to raise up to $2 billion in its initial public offering in the U.S. the hedge fund said on Tuesday.

It was initially expected to bring in as much as $25 billion in new capital, but Ackman last week said the fundraise would be capped at $10 billion.

The hedge fund expects to sell up to 40 million shares priced at $50 each, according to a regulatory filing.