Sears Holdings Corp.’s plan to spin off its Hometown and Outlet stores may give Chairman Edward Lampert an opportunity to hold a larger stake in the new publicly traded company.

The business will be spun off through a rights offering in the third quarter and trade on the Nasdaq Stock Market with the ticker symbol “SHOS,” Hoffman Estates, Illinois-based Sears said yesterday in a filing with the US Securities and Exchange Commission.

Lampert’s ESL Investments Inc. hedge fund will buy all the stock it’s entitled to and as many shares as possible that aren’t purchased by other holders that have rights to invest in the new entity, Sears said.

That may enable Lampert and his funds to control a larger share of the new company than their approximately 62 percent stake in Sears.