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LONDON - Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD), a $9.36 billion market cap investment company currently trading at $52.29, announced Wednesday a new share buyback program worth $200 million for its outstanding Public Shares on the London Stock Exchange. The company stated the program is expected to be accretive to net asset value per share and will reduce its capital.
According to the press release statement, Pershing Square has repurchased 69,920,511 Public Shares for a total of $1.6 billion at an average price of $22.49 since initiating its first share buyback program on May 2, 2017. The company maintains a healthy dividend yield of 1.27% and demonstrates consistently low price volatility.
Jefferies International Limited will continue to serve as the sole buyback agent for the program, which will allow the company to purchase shares during closed periods. Shares repurchased will be held in Treasury.
The company specified that the number of shares to be repurchased under the program will not exceed $200 million or 10,000,000 PSH Public Shares.
Pershing Square Holdings is an investment holding company structured as a closed-ended fund that trades on the London Stock Exchange. InvestingPro analysis shows the company maintains a "GOOD" financial health score, with additional insights and ProTips available to subscribers.
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