WH Group Plans IPO for Smithfield US and Mexico Businesses
- Bloomberg reported Friday that banks have been picked for IPO
- WH Group shares rose as much as 6.9% Monday after Friday surge
A Smithfield Foods Inc. pork processing facility in Milan, Missouri.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
The world’s biggest pork producer WH Group Ltd. is spinning off the US and Mexico businesses of Smithfield Foods Inc. and listing them in New York, it said in a Hong Kong stock exchange filing.
The announcement confirmed a Bloomberg News report Friday, which said WH Group has picked banks to arrange a US share sale to raise at least $1 billion.