03:03 PM EDT, 07/31/2024 (MT Newswires) -- Bill Ackman's Pershing Square USA said Wednesday it has abandoned its previously announced initial public offering.

Despite receiving "enormous investor interest" in Pershing Square USA, it has been decided to reassess the company's "structure to make the IPO investment decision a straightforward one," Ackman said in a statement.

"We will report back once we are ready to launch a revised transaction," Ackman added.