Reported Earlier, Howard Hughes Board Approves Plans To Spin Off Seaport Entertainment With 1-For-9 Pro Rata Share Distribution
Portfolio Pulse from Benzinga Newsdesk
Howard Hughes Holdings (HHH) announced a spin-off of Seaport Entertainment Group Inc., with a 1-for-9 pro rata share distribution to HHH shareholders. The distribution will be payable on July 31, 2024.
July 19, 2024 | 6:21 am
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Howard Hughes Holdings (HHH) announced a spin-off of Seaport Entertainment Group Inc., with a 1-for-9 pro rata share distribution to HHH shareholders. The distribution will be payable on July 31, 2024.
The spin-off of Seaport Entertainment Group is likely to unlock value for HHH shareholders, as they will receive additional shares in the new entity. This could lead to a positive short-term impact on HHH's stock price.
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