Smithfield Foods, Inc. announced on January 21, 2025, the commencement of its roadshow for an underwritten initial public offering of 34,800,000 shares of common stock. The initial public offering price is expected to be between $23.00 and $27.00 per share.
The offering consists of 17,400,000 shares to be sold by the company and an equal number by an existing shareholder. Underwriters have a 30-day option to purchase up to 5,220,000 additional shares from the selling shareholder.
The company has applied to list its shares on the Nasdaq Global Select Market under the ticker symbol 'SFD'. Smithfield Foods is targeting a valuation of up to $10.73 billion in this U.S. initial public offering.
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