Smithfield Foods Targets $10.7 Billion Valuation in U.S. IPO

The largest U.S. pork producer plans to return to the stock market after more than a decade, with shares priced between $23 and $27.

Smithfield Foods, owned by Hong Kong-based WH Group, aims to list on Nasdaq under the ticker 'SFD'.
The company and WH Group are offering 17.4 million shares each, potentially raising up to $939.6 million.
The IPO would value Smithfield at up to $10.73 billion, roughly double its net asset value as of September 2024.
Smithfield has reduced its pig herd by 21% for 2025, opting to source more animals from partners to cut capital investment.
The IPO is expected to be a key test for the U.S. market in 2025, with potential impacts from trade tensions and immigration policies noted in filings.