Pork Producer Smithfield’s IPO Seeks to Raise $940 Million
This article is for subscribers only.
Smithfield Foods Inc.’s initial public offering is seeking to raise as much as about $940 million, in what would be the biggest food company listing in the US in more than three years.
The world’s largest pork producer and an indirectly-owned subsidiary of its owner, Hong Kong-listed WH Group Ltd., are both offering shares in the listing. Smithfield and the selling holder plan to offer 17.4 million shares each for $23 to $27 apiece, according to a Tuesday filing with the US Securities and Exchange Commission.