Bacon Brand Smithfield Said to Pick Banks for $1 Billion IPO
- Pork producer could list in New York as soon as this year
- Smithfield intends to raise at least $1 billion in share sale
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Smithfield Foods Inc., the maker of Farmland bacon and Farmer John sausages, has picked banks to arrange a US initial public offering that may seek to raise at least $1 billion, according to people familiar with the matter.
The company is working with Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley on the planned listing, the people said. It could carry out an IPO as soon as this year, according to the people, who asked not to be identified because the information is private.