(Finance) – “I will seek approval from the board of directors of Pershing Square Holdingsof which my family and I own 23% of the shares, for eliminate its listing on Euronext Amsterdam“. This was written by X (formerly Twitter) Bill Ackmana well-known American hedge fund manager.
“The board had considered this move because our second listing on the London Stock Exchange now represents over 90% of our trading,” he wrote. Amsterdam events of the last 24 hours provide an appropriate turning point for this conclusion.”
Ackman’s reference, an American from a Jewish family, is ai violent clashes between Ajax and Maccabi fans.
“Concentrating the listing on one exchange, the LSE, and leaving a jurisdiction that fails to protect its tourists and minorities combines both good commercial and moral principles,” he said. “We can also save money and improve liquidity for the shareholders”.
Ackman also said he had “started the conversation” with Universal Music Groupgiven that he sits on the Board of Directors, on moving his domicile and listing to the United States.
“Pershing Square has the contractual right to have UMG listed in the United States,” he said. “We will exercise this right and obtain a U.S. listing for UMG.” no later than next year. UMG trades at a steep discount to its intrinsic value with limited liquidity largely due to the fact that it does not have its primary listing on the NYSE or Nasdaq, and is not eligible for inclusion in the S&P 500 and other indexes. We will solve this problem. Now is the right and appropriate time to do so.”