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(Alliance News) - Pershing Square Holdings Ltd said on Tuesday it will buy back USD100.0 million in shares.
The programme will commence following the completion of a previously announced buyback, which also amounts to USD100.0 million. The share repurchase is accretive to net asset value per share and will reduce the firm's capital, said Pershing.
As of Monday, Pershing had completed 99.3% of its previously announced buyback, under which it has repurchased 5.3 million shares at an average price of USD18.57 each.
Jefferies International Ltd will continue in its role as sole buyback agent for the programme.
Pershing shares were down 0.3% at 1,440.00 pence in London on Tuesday.
By Lucy Heming; lucyheming@alliancenews.com
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