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What you need to know
- Smithfield Foods announced Tuesday the terms of its initial public offering. The largest U.S. producer of pork expects shares to cost between $23-$27 each.
- Smithfield’s market capitalization would be nearly $10 billion if the midpoint was set at the middle of its expected IPO range.
- Smithfield has applied to list on the Nasdaq under the ticker "SFD."
Smithfield Foods announced Tuesday the terms of its planned Initial Public Offering (IPO). The largest U.S. Pork Producer and Hong Kong listed parent company WH Group plan to both offer 17,4 million shares for a price range between $23-$27 each.
According to the biggest U.S. producer of pork, the move is expected to generate proceeds of $400.4 million. It also said that the company would hold almost 397.5 millions shares after the IPO. This will result in a capitalization market of $10 billion if the offer ranges are taken at their mid-point. At the high end, it would have a value of over $10.7 billion.
According to the company, it made a profit between $515 and $543 millions on sales between 3,87 billion dollars and $3.95 trillion for the period ending Dec. 29, 2015.
Smithfield has filed to be listed on Nasdaq with the ticker WH Group. “SFD.”
Dealogic’s data shows that the projected IPO will come after the company raised an additional $39.32 Billion in 2024. This is more than the last two years. According to market participants, 2025 is expected to be a more favorable year for IPOs. President Donald Trump will likely ease up on regulations while the Federal Reserve lowers interest rates.
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