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传万洲国际(00288)旗下史密斯菲尔德最早今年在美上市 拟筹资至少10亿美元

Smithfield, a subsidiary of WH Group (00288), plans to go public in the United States earlier this year with a target of raising at least $1 billion.

Zhitong Finance ·  Jul 12 03:14

According to the insider, Smithfield Foods has selected advisors including Bank of America and Goldman Sachs for its initial public offering (IPO) in the United States, planning to raise at least $1 billion. The US company is a subsidiary of WH Group, the world's largest pork producer.

Insiders say discussions are still ongoing and Smithfield Foods may decide not to go public.

It was announced in September 2013 that WH Group, then known as Shuanghui International, had received US government approval for a $7.1 billion acquisition of Smithfield Foods, making Smithfield Foods a wholly owned subsidiary of WH Group. After the merger was completed, Smithfield Foods was delisted from the NYSE.

In April 2014, WH Group went public on the Hong Kong Stock Exchange, raising funds to pay off acquisition loans for Smithfield Foods and for operating capital, making it the world's largest pork food enterprise by acquiring Smithfield Foods.

As the hog cycle rebounds, WH Group rose nearly 5% on the Hong Kong stock exchange on Friday, with a market cap of $8.6 billion. The financial report showed that the company's revenue in 2023 was about $26 billion, and its net income was $0.606 billion, compared to $1.4 billion the previous year.

Smithfield Foods was founded in Virginia in 1936 and experienced rapid development in the 1980s, becoming the number one pork producer in the United States by 1998. It is the world's largest hog producer and pork supplier.

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