Smithfield Foods seeks up to $10.7 billion valuation in US IPO
Smithfield Foods is targeting a valuation of up to $10.73 billion 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. Hong Kong-based WH Group, the world's largest pork producer, is spinning off Smithfield into a listed company as it looks to create a separate fundraising platform for its U.S. and Mexico businesses. The IPO is set to be the largest U.S. listing by a food company since Swedish oat milk maker Oatly Group AB's $1.6 billion flotation in 2021, according to data compiled by LSEG.
