WH Group (00288) subsidiary Smithfield (SFD.US) submits application for US IPO.

Global pork production giant Smithfield Foods has filed for an initial public offering (IPO) in the United States. Smithfield, a subsidiary of WH Group (00288), announced on Monday its plans to list on the Nasdaq under the stock symbol "SFD". The company did not provide a timeline for the IPO, nor did it disclose the number of shares to be issued or the price range. WH Group stated that the offering of Smithfield shares is expected to commence when market conditions permit, and is subject to the effectiveness of the registration statement as declared by the Securities and Exchange Commission. Currently, the number of Smithfield shares to be offered and the amount to be raised have not been determined. The company will make further announcements regarding the Smithfield offering in due course. The underwriters for this IPO include Citigroup, UBS Investment Bank, BNP Paribas, and HSBC. In May 2013, Smithfield Foods reached a strategic merger agreement with Shuanghui International (a subsidiary of WH Group), with Shuanghui International acquiring Smithfield for a total price of $7.1 billion, marking a deep cooperation between the two companies in the food industry.