By Ian Walker

Bill Ackman's Pershing Square Holdings plans to delist from Euronext Amsterdam and consolidate trading in London.

The investment firm--in which hedge-fund billionaire Ackman and his family own a 23% stake--said Tuesday that improved liquidity in London and lower regulatory costs from a delisting outweigh the benefits of remaining on Euronext Amsterdam.

Chairman Rupert Morley said the board has been monitoring the company's listing arrangements for some time and hired advisors to review the Amsterdam listing in January.

The delisting needs approval from Euronext Amsterdam and a formal application will be submitted, the company said. Upon completion of the delisting, shareholders that own Euronext Amsterdam-traded shares will be able to trade them in London.

Earlier this month Ackman said he wanted to terminate the Amsterdam listings of Pershing Square and Universal Music Group after violence in the Dutch capital that authorities called antisemitic attacks.

His remarks came in the wake of street violence following a soccer game in Amsterdam, where Israeli fans were chased down and beaten in what leaders of both the Netherlands and Israel called antisemitic attacks.

Ackman serves as a nonexecutive director on Universal's board and commands a stake of more than 10% in the company via Pershing Square, according to the Universal's 2023 annual report.

Shares in London were up 28 pence, or 0.7%, at 3,856.0 pence in early morning European trading. They are currently up 7.6% over the year to date.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

December 03, 2024 04:31 ET (09:31 GMT)

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