Smithfield parent company sets $5.3B IPO
HONG KONG – WH Group Ltd., the world’s largest pork company, has launched the second-largest ever initial public offering of nearly $5.3 billion, according to news reports.
The company set pricing for the IPO for April 22, and the shares will debut on the Hong Kong stock exchange on April 30. WH Group
could boost the size of the IPO to $6.11 billion to meet additional demand. News reports state that the listing is the second-largest IPO after Kraft Food Inc.’s deal of $8.7 billion in 2001. It also is the largest new listing in the Asia-Pacific.
WH Group owns a variety of food and logistics enterprises including Smithfield Foods Inc. and Henan Shuanghui Investment & Development Co. Ltd., China's largest meat processor.