Smithfield Foods, Inc. has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission to sell shares of its common stock in an underwritten initial public offering.
Hong Kong-based WH Group, the world’s largest pork producer that took Smithfield private in 2013 for $4.7 billion, will sell some of its shares in the Virginia-based company in the offering, alongside the company, Reuters reports. Founded in 1936 as a packing company in Virginia, Smithfield was listed on the New York Stock Exchange from 1999 until its acquisition in 2013.
According to Smithfield Foods, the timing, the number of shares that may be offered and the price range for the proposed offering have not yet been determined.
“The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering,” Smithfield shared. “The Company has applied to list its shares of common stock on the Nasdaq Global Select Market under the ticker symbol ‘SFD.’”
Morgan Stanley, BofA Securities and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the proposed offering, the company wrote. Barclays, Citigroup, UBS Investment Bank, BNP PARIBAS and HSBC are acting as joint book-running managers.
“The proposed offering will be made only by means of a prospectus,” Smithfield shared.
Copies of the preliminary prospectus related to this offering, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attn: Prospectus Department, by email at dg.prospectus_requests@bofa.com; and Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone: 1-866-471-2526 or by email at Prospectus-ny@ny.email.gs.com.
“A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective,” Smithfield wrote.
In December, Smithfield signed agreements with Murphy Family Ventures and VisionAg, LLC, an affiliate of HD3 Farms, to supply hogs to the company as independent pork producers.
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