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(Alliance News) - Pershing Square Holdings Ltd on Thursday said it will embark on a USD100.0 million share buyback programme of its shares on the London Stock Exchange and Euronext Amsterdam.
The closed-ended investment company will repurchase 6.0 million shares or 2.8% of its current public shares in a programme which is expected to last until its next annual general meeting.
Pershing Square said the buyback programme is accretive to its net asset value per share and will reduce its capital. The investor has appointed Jefferies International Ltd as its buyback agent.
Shares in Pershing Square were up 1.2% at 1,362.00 pence in London on Thursday.