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.