Finance
Pershing Square to delist from Euronext Amsterdam
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(Reuters) – Pershing Square Holdings said on Monday it plans to delist its shares from Euronext Amsterdam, after billionaire Bill Ackman urged its board last month.
(Reuters) – Pershing Square Holdings said on Monday it plans to delist its shares from Euronext Amsterdam, after billionaire Bill Ackman urged its board last month.
The investment holding company, in which Ackman and his family own a 23% stake, said its shares will continue to be traded in dollars and pounds on the main market of the London Stock Exchange.
Delisting from Euronext Amsterdam and consolidating trading on the London Stock Exchange would reduce regulatory complexity and improve liquidity, Pershing Square Chairman Rupert Morley said in a statement.
A formal application for delisting will be submitted to Euronext, the company said.
The move comes after Ackman last month announced his intention to delist the company from Amsterdam following attacks on Israeli soccer fans.
(Reporting by Disha Mishra in Bengaluru; Editing by Shreya Biswas)
Delisting is the process of removing a company's stock from a stock exchange, meaning it can no longer be traded on that exchange. This can happen voluntarily or due to regulatory issues.
The London Stock Exchange (LSE) is one of the largest stock exchanges in the world, where shares of publicly traded companies are bought and sold. It operates in pounds and dollars.
Liquidity refers to how easily an asset can be converted into cash without affecting its market price. High liquidity means assets can be quickly sold, while low liquidity means it may take longer to sell.
Regulatory complexity refers to the challenges companies face in complying with various laws and regulations. It can increase operational costs and complicate business processes.
An investment holding company is a firm that primarily holds and manages investments in other companies rather than engaging in operations or production itself.
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