Pork producer WH Group touches 6-week high on Smithfield IPO

WH

22/01/2025 03:18

** Shares of WH Group  0288.HK , the world's largest pork
producer, climb 2.2% to HK$6.62, their highest since Dec. 12,
2024; set for a fourth consecutive session of gains
    ** Co's Smithfield Foods is targeting a valuation of up to
$10.73 bln in its New York flotation, the biggest U.S. pork
processor said on Tuesday, moving closer to its U.S. stock
market return after more than a decade 
    ** WH Group is spinning off and seeking a separate listing
of Smithfield Foods on the Nasdaq Global Select Market, as it
looks to create a separate fundraising platform for its U.S. and
Mexico businesses
    ** Smithfield and WH Group are each offering 17.4 mln
shares, priced between $23 and $27 each, to raise up to $939.6
mln
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 1.4%,
while index tracking consumer staples  .HSCICS  and Hang Seng
Index  .HSI  both slip 1.1%
    ** WH Group shares rose 19.3% last year  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))