Chinese-Owned Pork Producer Smithfield Prepares for U.S. Listing

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By Dave Sebastian, Patrick Thomas and Ben Dummett

(The Wall Street Journal) — The Chinese parent of pork giant Smithfield Foods is working with banks to take the 87-year-old business public again in the U.S.

Smithfield, the largest U.S. pork producer, could list its shares as early as next year, according to people familiar with the matter. Deliberations are ongoing and the timing could change, the people said.

Smithfield was acquired in 2013 by China’s top meat producer, which is known today as WH Group. The $4.7 billion deal marked one of the biggest takeovers of an American business by a Chinese company at the time and resulted in the delisting of Smithfield, which used to trade on the New York Stock Exchange. The combined company became the world’s largest hog farmer and pork producer, and went public in Hong Kong in 2014 after raising more than $2.3 billion.