Pershing Square Holdings Ltd on Tuesday confirmed it will de-list from Euronext Amsterdam, citing cost savings and the ability to concentrate trading on the London Stock Exchange.
The move will ‘reduce regulatory complexity and improve liquidity of PSH’s shares’, explained Chair Rupert Morley.
Pershing Square Holdings is a Guernsey-domiciled closed-ended investment fund managed by New York-based hedge fund manager Pershing Square Capital Management LP, founded and led by Bill Ackman. It makes concentrated investments in mainly North American companies for long-term returns.
Pershing Square Holdings said it has been considering its listing arrangements since this past January. Last month Ackman said the violent clashes involving Israeli football fans in Amsterdam would accelerate the delisting from the city, The Times reported.
With its decision, Pershing Square Holdings will make the opposite move from Just Eat Takeaway.com NV, which recently announced plans to delist from London in favour of Amsterdam. While Pershing Square Holdings was promoted to the FTSE 100 late in 2020, Just Eat Takeaway was removed from the top index in 2021 for being too Dutch.
Pershing Square Holdings shares were up 1.2% at 3,872.00 pence in London on Tuesday, giving it a market capitalisation of $10.06 billion.
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