LONDON - Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) announced today the initiation of a new share buyback program, authorizing the repurchase of $100 million of its Public Shares on the London Stock Exchange (LON:LSEG) and Euronext (EPA:ENX) Amsterdam. This decision follows the near completion of a similar $100 million buyback program launched on November 27, 2024.
As of December 13, 2024, the company had repurchased 29.3% of its Public Shares under the current program at an average price of $48.92, totaling 598,409 shares. Since May 2, 2017, when Pershing Square initiated its first buyback program, the company has repurchased 66,551,162 Public Shares for $1.4 billion at an average price of $21.06.
The new buyback program is designed to be accretive to the Net Asset Value (NAV) per share and will decrease the company's capital. The maximum number of shares to be repurchased is set at $100 million or 5,000,000 PSH Public Shares, whichever is lower. Pershing Square Holdings, Ltd. operates as a closed-ended investment holding company and has engaged Jefferies International Limited as the sole buyback agent to facilitate the repurchase of shares even during closed periods. Shares bought back under the program will be held in Treasury.
This move is part of the company's strategy to manage its share capital actively. The information is based on a press release statement from Pershing Square Holdings, Ltd.
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