Bill Ackman's hedge fund Pershing Square plans to raise $5 billion in its IPO, at the lower end of its initial $5-10 billion target. The IPO, which will list on the New York Stock Exchange under the ticker symbols PSUS and PS, includes stakes in both the hedge fund and a closed-end fund. Despite being oversubscribed, the final offer size is set at $5 billion, with about 85% of shares covered by institutional investors and a $2.8 billion private placement. Pershing Square is known for contrarian bets, notably earning $2.6 billion from a pandemic hedge. The IPO follows a failed $25 billion closed-end fund attempt in 2024 and aims to give investors exposure to both funds with a 2% management fee and no performance fee. Major banks like Citigroup and UBS lead the offering.
Sodexo has secured a major global contract to provide catering services across more than 130 Meta sites in over 30 countries. This large-scale partnership includes diverse locations such as headquarters, campuses, data centers, and conference centers...
DMG Blockchain Solutions announced two strategic investments: one in MeetAmi Innovations, a Canadian fintech offering digital asset wealth management platforms, and another in Atomic47 Labs, an AI company focused on secure, sovereign AI infrastructur...
Gnosis (GNO) surged 13% in 24 hours, closing in on overtaking BONK by market capitalization to reach the 100th largest token spot. GNO's market cap stands at $303.88 million versus BONK's $330.07 million, requiring a price rise to about $125.48 for t...
Broadridge's Tokenization Pulse Survey shows 84% of firms view tokenization as strategically important, with 68% expecting it to reshape markets within 3-5 years. Most firms plan to integrate tokenization into existing infrastructure rather than buil...
Standard Chartered has partnered with Broadcom to modernize its global banking infrastructure by adopting a secure, resilient private cloud using VMware Cloud Foundation. This upgrade supports critical banking services across 54 markets with enhanced...
