Source: MEATINGPLACE, 2/10/14


The Chinese owner of Smithfield Foods has set a roster of at least 17 banks to lead its initial public offer this spring, according to reports in the Wall Street Journal and the Financial Times.

WH Group – which recently changed its name from Shuanghui International – is counting on U.S., European and Asian financial institutions to guide its $5-billion stock sale, including Morgan Stanley, Bank of China International and Goldman Sachs. Other underwriters include Deutsche Bank AG, Credit Suisse Group AG and Daiwa Securities, making the list of underwriters and sponsors to a record 17.

Morgan Stanley and Bank of China helped arrange financing for WH Group’s acquisition of Smithfield in an $8-billion deal that closed last year. They are expected to lead the IPO effort, which could raise more than $6 billion when shares are sold.

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