Smithfield Foods targets up to $10.7 bln valuation in US IPO (updated)

WH

21/01/2025 11:39

(Rewrites paragraph 1 with valuation target and adds details
throughout)
       Jan 21 (Reuters) - Smithfield Foods is targeting a
valuation of up to $10.73 billion in its U.S. initial public
offering, the Farmland bacon maker said on Tuesday.
    Hong Kong-based WH Group  0288.HK , the world's largest pork
producer, is spinning off Smithfield and listing its shares in
the United States.
    Smithfield and WH Group are offering 17.4 million shares
each priced between $23 and $27 each to raise up to $939.6
million.
    Morgan Stanley, BofA Securities and Goldman Sachs are the
lead underwriters.
    Smithfield will list on the Nasdaq under the symbol "SFD."

 (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by
Shilpi Majumdar)
 ((ArasuKannagi.Basil@thomsonreuters.com))