Wh Group (00288) opened more than 3%, as of press time, up 3.44%, at HKD 5.42, with a turnover of HKD 8.4435 million.
According to the Smart Finance APP, Wh Group (00288) opened more than 3%, as of press time, up 3.44%, at HKD 5.42, with a turnover of HKD 8.4435 million.
On the news front, Wh Group announced that it proposes to spin off Smithfield food business operations in the United States and Mexico and list them independently on the New York Stock Exchange or Nasdaq. It is currently expected that after the spin-off, Smithfield US and Mexico will remain subsidiaries of the company. As of now, the details of the proposed spin-off have not yet been finalized.
It is reported that Smithfield is the largest pork company in the United States, which was acquired by Wh Group for USD 7.1 billion in 2013 and is now a wholly-owned subsidiary of Wh Group. Smithfield's revenue composition is mainly meat products and pork, including hog farming and animal slaughter business, with a hog farming quantity of about 17 million by the end of 2022.