Pershing Square Holdings announces $100 million share buyback program

Pershing Square Holdings, Ltd. (LN: PSH) (LN: PSHD) announced a $100 million share buyback program for its outstanding public shares on the London Stock Exchange, according to a company statement.

The program will purchase up to $100 million or 5 million PSH public shares, whichever limit is reached first. The company stated the program is expected to be accretive to net asset value per share and will reduce PSH's capital.

Since beginning its first share buyback program on May 2, 2017, PSH has repurchased 74,924,531 PSH public shares for a total of $1.9 billion at an average price of $24.99.

Jefferies International Limited will serve as the sole buyback agent for the program, enabling share purchases during closed periods. Shares repurchased by the company will be held in treasury.

Pershing Square Holdings is an investment holding company structured as a closed-ended fund.

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