Smithfield Foods valued at $8.4 bln as shares rise in market debut (updated)

Smithfield Foods

28/01/2025 17:38

(Adds price at open in paragraph 2)
       Jan 28 (Reuters) - Shares of Smithfield Foods  SFD.O 
rose 5.3% in their Nasdaq debut on Tuesday, valuing the largest
U.S. pork processor at $8.4 billion.
    The stock opened at $21.05, compared with the initial public
offering price of $20.
    The company had initially targeted proceeds of up to $940
million but downsized the IPO and settled for $521.7 million.
The proceeds are to be divided between Smithfield and its parent
company, Hong Kong-based WH Group  0288.HK , which was also
selling some shares.

 (Reporting by Niket Nishant and Arasu Kannagi Basil in
Bengaluru; Editing by Tasim Zahid and Krishna Chandra Eluri)
 ((Niket.Nishant@thomsonreuters.com;))