WH Group Plans to List Smithfield Foods Shares on US Markets
HONG KONG — WH Group Ltd., the parent company of Smithfield Foods Inc., has announced plans to list up to 20% of Smithfield shares on the New York Stock Exchange or NASDAQ.
The move marks a significant development for the company as it seeks to re-enter the US stock market.
The proposal, first disclosed in July 2024, has been detailed in a recent filing with the stock exchange.
WH Group emphasized that the spin-off and listing will be subject to regulatory approvals, including clearance from the US Securities and Exchange Commission (SEC). However, no definitive timeline for the listing has been provided.
In its statement, WH Group noted, “Shareholders and potential investors of the company should be aware that there is no assurance that the proposed spin-off and the listing of the Smithfield shares will take place, and if so, when they may take place.
Shareholders and potential investors should exercise caution when dealing in or investing in the securities of the company.”
WH Group acquired Smithfield Foods in 2013 for $4.7 billion, a landmark acquisition that remains one of the largest purchases of a US company by a Chinese firm.
Following the acquisition, Smithfield was delisted from the New York Stock Exchange and WH Group later raised $2.3 billion during its initial public offering on the Hong Kong Stock Exchange in 2014.
The decision to list Smithfield shares in the US is seen as an effort to boost WH Group’s valuation after recent financial challenges, including the African swine fever outbreak in China, which significantly impacted global pork supply chains.
WH Group’s announcement follows a similar move by JBS S.A., another major meat company, which revealed plans earlier this year to list shares on both the São Paulo Stock Exchange and the New York Stock Exchange.
This listing initiative reflects a broader trend of global meat producers seeking to diversify their market presence and capitalize on opportunities in the US financial markets.
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