Source: MEATINGPLACE, 4/10/14
 
China’s WH Group Ltd., which last year bought Smithfield Foods, will launch its initial public stock offering on the Hong Kong stock exchange later this month with plans to raise more than $5 billion, Reuters reported.

The world’s largest pork company will use some of the proceeds to pay down debt from the $4.9 billion acquisition of Smithfield, completed last September, according to the article.

It said the IPO could raise as much as $5.3 billion if shares are sold at the top end of the offered range, with the amount increasing to $6.11 billion if underwriters exercise an option to meet additional demand.

Pricing for the IPO is set for April 22, with the shares making their debut on the Hong Kong stock exchange on April 30, Reuters said, citing anonymous sources familiar with the deal.

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