Ackman's Pershing Square USA (PSUS.US) IPO pricing delay! SEC may require more details to be provided.

According to the latest reports from the media, some analysts predict that the Securities and Exchange Commission (SEC) will require Bill Ackman's Pershing Square USA (PSUS.US) to provide more detailed information about the closed-end management fund after reviewing a letter to shareholders, before approving the initial public offering (IPO) price. The market had previously expected the price to be announced on Monday, but it seems that the final pricing of Pershing Square USA's IPO has been delayed. The media reported on Monday in Eastern Time that this may give hope for the IPO trading to be priced later this week or even on Monday of next week. According to the latest reports from the media, the US SEC is carefully reviewing the content of a shareholder letter submitted to the SEC by billionaire hedge fund manager Ackman's Pershing Square USA last Wednesday. The report stated that Ackman initially thought he did not have to publicly disclose this letter. However, the media reports that the letter was "exceptionally candid." For example, Ackman told his strategic partners that the size of this IPO trade is indeed very sensitive to market reaction. He lowered the expected listing from a previous high of $25 billion to $4-$5 billion. He also mentioned that his Pershing Square USA has received orders from large institutional investors such as Baupost Group, mutual fund Putnam, and the Teachers Retirement System of Texas. He emphasized that a family wealth management institution expressed interest in purchasing approximately 9.9% of the final IPO trade size. In addition to Pershing Square USA, which is about to be listed on the US stock market, Ackman also has another hedge fund listed on the Amsterdam stock market- Pershing Square Holdings Ltd. Known for his activist investing, Bill Ackman emphasized in a recent public roadshow presentation that managing permanent capital has the advantage of being able to focus more on the investment portfolio and have the ability to adopt long-term investment strategies. Analysts expect that this publicly traded closed-end management fund will invest in 12-24 investment grade "durable growth" large-cap companies in North America for the long term. Ackman said, "If you want to be a long-term investor in a company, the challenge of managing a fund that can come in and out at any time is significant. This behavior can have a significant negative impact on returns." Bloomberg Intelligence analyst David Cohne recently stated that the costs of Pershing Square USA are relatively lower compared to typical hedge funds like Ackman's, and it is very popular among retail investors on American social media. The analyst added that Pershing Square USA, striving to be listed on the US stock market, could become the largest closed-end management fund in the US, with its trading price expected to be significantly higher than its net asset value.