Pershing Square Holdings launches $100 million share buyback program

Investing.com -- Pershing Square Holdings announced a new $100 million share repurchase program on the London Stock Exchange.

The buyback will be limited to either $100 million or 5 million public shares, whichever amount is reached first, according to a company statement released Monday.

Jefferies International will serve as the sole agent for the repurchase program. The investment firm plans to hold repurchased shares in Treasury, which will effectively reduce the outstanding share count.

The company expects the share buyback to be accretive to net asset value per share, potentially increasing the value for remaining shareholders.

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