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SMITHFIELD FOODS PARENT COMPANY WH GROUP TO ISSUE IPO
BrownfieldAgNews reports:

The world's biggest pork producer wants to raise some cash.

China's WH Group, the company that purchased Smithfield Foods says it will offer 3.65 million shares on the Hong Kong stock exchange.

Estimates are the shares would raise between $4.1 and $5.3 billion (U.S.). The IPO price will be set next week with trading scheduled to launch April 30th.

WH Group was known as Shuanghui International Holdings prior to the Smithfield acquisition. Australia's Sky News says most of the money raised by the sale would be used to pay off the loan the company took out to buy Smithfield less than a year ago.


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