What were the prices for Smithfield IPO?

Pricing shares at $20.00, the first public offering fell short of the targeted range of $23 to $27. The IPO assessed the firm at more than $8 billion.

What was the price of Smithfield IPO?

(the "Company"), an American food company and an industry leader in value-added packaged meats and fresh pork, today announced the pricing of an underwritten initial public offering of 26,086,958 shares of its common stock at a public offering price of $20.00 per share.

What is the IPO listing price?

On the other hand, the IPO listing price is the price at which the shares of the company begin trading on the stock exchange after the IPO subscription period ends. It is the price at which investors can buy and sell shares in the secondary market.

When did Smithfield go public?

Smithfield has been owned by China's WH Group since 2013, and the combined company went public in Hong Kong in 2014. Smithfield is the largest pork producer in the U.S., with 2023 sales of $14.175 billion and approximately 34,000 employees nationwide.

Did Smithfield Foods price its IPO below its market range?

The offering was priced at $20 per share, Smithfield said, below the $23-$27 per share range that would have raised as much as $939.6 million. Smithfield raised $260.9 million in the offering, while the rest was raised by the selling stockholder, a unit of its parent company WH Group (0288.HK) , opens new tab.

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How much did Smithfield sell for?

Then known as Shuanghui Group, WH Group purchased Smithfield Foods in 2013 for $4.72 billion. It was the largest Chinese acquisition of an American company to date.

Why is there a price range for IPO?

Price Range: The price range is the minimum and maximum price within which investors can place bids for shares in an IPO. The company sets this range. Cutoff Price: The cutoff price is the final price at which shares are allotted to retail investors.

Can the general public buy meat from the Smithfield Market?

Can the public buy? Anyone can buy meat, poultry and provisions at Smithfield. It is open to the public by Charter: walk through the Market, look around, talk to the salesmen on the front of the stalls.

Is Smithfield a Fortune 500 company?

1974. Joseph W. Luter III, grandson of the company's founder, became president. Under Luter's leadership, Smithfield started on its path to becoming a Fortune 500 company.

What is the public offering of Smithfield Foods?

(Nasdaq: SFD) and its shareholder, WH Group Limited, on Smithfield's $522 million IPO on the Nasdaq Global Select Market. The offering comprises 26,086,958 shares of common stock at a public offering price of $20.00 and is expected to close on January 29, 2025, subject to customary closing conditions.

How to check IPO value?

Several factors or components decide the valuation of an IPO. These factors include the company's past financial performance, industry peers, growth potential, and overall picture of the industry. The company hires investment bankers who thoroughly assess the above factors and determine a price range for the IPO.

How to know if an IPO is overpriced?

If a company that is launching an IPO has multiple direct competitors, you can easily compare their businesses to determine the company's market value. If one or two competitors already have their shares listed, you can compare the prices and determine if the IPO is overpriced and refrain from applying.

What is the pricing of an IPO?

How Is the IPO Share Price Decided? A valuation is given to the company with the input of an investment bank, and that value is then divided by the total number of shares to be issued to arrive at a price per share.

What is the most expensive IPO ever?

What is the stock price prediction for Smithfield?

SFD Stock 12 Month Forecast

Based on 6 Wall Street analysts offering 12 month price targets for Smithfield Foods in the last 3 months. The average price target is $29.75 with a high forecast of $32.00 and a low forecast of $28.00. The average price target represents a 15.62% change from the last price of $25.73.

Did Smithfield Foods IPO raised $522 million below expectations?

Smithfield Foods Inc.'s initial public offering raised $522 million, with shares pricing below the marketed range. The world's largest pork producer and an indirectly owned subsidiary of Hong Kong-listed WH Group Ltd., sold about 26 million shares for $20 each, according to a statement.

Who owns Smithfield?

Smithfield's Chinese Ownership, Explained

But in 2013, WH Group, formerly known as Shuanghui International Holding Limited, one of China's largest meat producers, purchased Smithfield outright for $4.7 billion. It was the largest-ever Chinese acquisition of an American company, and was highly controversial in America.

Which food company is the richest?

The Switzerland-based Nestle SA is the world's leading Food company by market cap (as of Mar 31, 2023). The company reported revenues of $98,915 million for the fiscal year ended December 2022 (FY2022), an increase of 3.81% over FY2021.

What is Smithfield S&P rating?

S&P Global Ratings affirms Smithfield Foods at "BBB-" (Foreign Currency LT credit rating); outlook stable.

Why is the Smithfield market closing down?

The City of London Corporation, which runs the site, said on Tuesday its council voted to stop operating Smithfield and Billingsgate fish market. The original plan had been to relocate the markets to a £1bn development in Dagenham, but a sharp rise in construction costs and wider inflation forced a rethink.

Is the Smithfield Market worth it?

Smithfield- a must-do experience

Fascinating experience but not for the faint hearted. Definitely worth seeing at 3-4am at its busiest. Go with a clear idea of what you want to buy as the choice & quantities are overwhelming. Vendors can be abrupt- avoid no.

Why did Smithfield go public?

A public listing would allow owner WH Group, the world's largest pork producer, to focus on its Chinese operations while giving Smithfield the flexibility to raise capital in a difficult economic environment.

Should I bid at a cut-off price in IPO?

If you bid higher than the cut-off price, you will have to block a higher amount for the application. If the cut-off price comes out to be lower and you get an allotment, the company refunds the excess amount. However, if your bid is lower than the cut-off price, you become ineligible for the allotment.

Are IPOs always overpriced?

IPOs are prone to being highly overvalued due to market hype, and if the company's fundamentals are not strong enough to support the initial price, this can lead to the stock underperforming after listing, thus resulting in losses for early investors.

What is the minimum IPO price?

For example, the company may specify a price range of Rs 601 - Rs 650 for its issue of 1 million shares. The lowest price in the price range, say Rs 601, is the minimum price and the highest price Rs 650 is the maximum price.