UPDATE 1-Ackman's Pershing Square raises $3 bln in fund listing

Wed Oct 1, 2014 6:35am EDT
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LONDON Oct 1 (Reuters) - Pershing Square Holdings, a fund managed by activist investor Bill Ackman, raised $3.07 billion ahead of a stock market listing in Amsterdam, the company said on Wednesday.

The fund boosts the firepower of billionaire Ackman, famed for aggressive moves such as a $1 billion bet against U.S. nutrition firm Herbalife and a battle to broker a sale of Botox maker Allergan to Valeant Pharmaceuticals.

The fund raised $2.73 billion through an initial public offering and said the exercise of an over-allotment option would see the value of the placing rise to more than $3 billion.

The fund was priced at $25 a share, giving it a market capitalisation of $6.2 billion, the company said in a statement.

Pershing Square Holdings' shares will start trading on Euronext Amsterdam on Oct. 13.

The fund is run by Pershing Square Capital Management, a North America-focused equities investment manager founded by Ackman in 2003 which had $14.1 billion in assets under management at the end of June. (Reporting by Francesco Canepa and Nishant Kumar; editing by David Clarke)