London Stock Exchange welcomes Pershing Square Holdings Ltd to the Main Market
London Stock Exchange today welcomed Pershing Square Holdings, Ltd. (PSH), an investment holding company structured as a closed-ended fund, to celebrate the listing of PSH’s public shares on the Main Market of the LSE.
PSH is managed by Pershing Square Capital Management, L.P. (Pershing Square), which is a concentrated, research-intensive, fundamental value investor in the public markets. The firm invests in long, and occasionally short, investment opportunities that exhibit significant discrepancies between current price and intrinsic business (or net asset) value, often with a catalyst for value recognition.
When the commitment of time, energy and capital is justified in light of the potential for reward, Pershing Square takes an active role in effectuating corporate change, which may include changes in management, cost structure, capital structure, corporate form, and strategy, among others.
In 2014, PSH began trading on Euronext Amsterdam. The listing on Euronext Amsterdam will not be affected by the LSE listing. Investors will now be able to trade PSH shares in both London and Euronext Amsterdam with PSH shares quoted and traded in Sterling in London and in USD on Euronext Amsterdam.
“We are delighted to join the Main Market of the iconic London Stock Exchange," said Pershing Square CEO and Portfolio Manager William A. Ackman. "The listing will help improve market access and liquidity for PSH. We are excited about the future of Pershing Square and are pleased to introduce PSH to a growing base of investors."
"Listing on the London Stock Exchange is a significant step for PSH,” said Chairman of the PSH Board Anne Farlow. “London is an important global financial hub and we believe listing on the LSE will benefit both existing and potential new investors in PSH."
PSH appointed Jefferies International Limited to act as sole sponsor and financial adviser to PSH in connection with the premium listing in London.