Shares of Chinese developer Landsea Green Management
106,
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,
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.