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Pork producer Smithfield Foods on Monday filed for an IPO, as its Hong-Kong-based parent company looks to focus on its Chinese operations.

Why it matters: It's the first large U.S. company to file for an IPO in 2025.

Zoom in: Smithfield plans to list its shares on the Nasdaq Global Select Market under the symbol "SFD."

Renaissance Capital estimates the IPO could generate around $1 billion, although Smithfield didn't disclose a size target. 

WH Group plans to invest the proceeds in infrastructure, automation and capacity expansion.

By the numbers: The U.S.'s largest pork producer generated $14.2 billion in sales and $1.3 billion of adjusted EBITDA for the 12 months ending Sept. 29, 2024.

Catch up quick: WH Group, China's largest pork producer formerly known as Shuanghui Group, acquired Smithfield in 2013 for about $4.7 billion.

But not without some controversy, as it needed U.S. national security clearance. 

WH Group, which is struggling with falling demand, said last year it planned a public offering of its U.S. unit.

Pork producer Smithfield Foods files for IPO

It's the first large U.S. company to file for an IPO in 2025

Illustration of a hand putting a hundred dollar bill in a piggy bank with lines on it like a butcher diagram

Pork producer Smithfield Foods on Monday <a class="gtmContentClick" data-vars-link-text="filed for an IPO" data-vars-click-url="https://www.sec.gov/Archives/edgar/data/91388/000162828025000470/smithfieldfoods-sx1.htm" data-vars-content-id="a1770573-d0c2-41c9-a5c8-ef81b189ce69" data-vars-headline="Pork producer Smithfield Foods files for IPO" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.sec.gov/Archives/edgar/data/91388/000162828025000470/smithfieldfoods-sx1.htm" target="_blank">filed for an IPO</a>, as its Hong-Kong-based parent company looks to focus on its Chinese operations.Why it matters: It&#x27;s the first large U.S. company to file for an IPO in 2025.

Pork producer Smithfield Foods files for IPO

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