The Howard Hughes Corp. on July 17 announced that its board of directors authorized a new holding company structure, The Howard Hughes Holding Corp. The holding corporation will become the new parent company of The Howard Hughes Corp. and will be the company publicly traded on the New York Stock Exchange, according to a news release.

According to the news release, existing shares of The Howard Hughes Corp. stock will be automatically converted into shares of common stock for HHC, the new ticker symbol for the company.

The company's board and executive officers will continue the same roles, according to the news release.

According to the company, the reorganization is intended to “promote the growth of its businesses, including by providing additional flexibility to fund future investment opportunities and to segregate assets and related liabilities in separate subsidiaries.”

The reorganization is expected to be effective Aug. 11 or shortly thereafter, according to the company.

The Howard Hughes Corp. is headquartered at 9950 Woodloch Forest Drive, 11th floor, The Woodlands.

The Howard Hughes Corp.'s master-planned communities in Texas are The Woodlands, The Woodlands Hills and Bridgeland.