financemarket.news

 

 

 

Shares of China’s Landsea Green rise on plan to buy Texas homebuilder for


Shares of Chinese developer Landsea Green Management
HK:106
rose after the company said its Nasdaq-listed unit will buy a Texas homebuilder for $185 million.

Shares were up 19% in early Hong Kong trading Friday, lifting the stock into the green for the year.

Landsea Green said ahead of trading that its Landsea Homes subsidiary
LSEA
plans to acquire Texas-based family homebuilder Antares Acquisition, subject to shareholder approval. It plans to pay a base purchase price of $185 million, funded by Landsea Homes’ internal resources.

Landsea Green, which has property operations in the U.S. and China, said the deal will help it expand into the Dallas/Fort Worth area.

Landsea Green holds a 54% stake in Landsea Homes. Shares of the U.S. unit are up 87% over the past 12 months.

The news follows Landsea Homes’ announcement last month that it is expanding in Arizona with 145 new homesites.



Read More: Shares of China’s Landsea Green rise on plan to buy Texas homebuilder for

Leave a comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.