Smithfield Foods' Chinese Parent Succeeds in IPO

摘要

WH Group Ltd., the Chinese meat processor that bought Smithfield Foods last year, on July 29 raised $2.05 billion in an initial public offering of stock meant to ease some of the debt it took on in that $7.1 billion acquisition. It was WH Group's second attempt at an IPO, with the first one, intended to raise $5 billion, withdrawn from the Hong Kong stock exchange in April. Financial reports said the Asian market was weak at the time and WH Group may have been overly optimistic about its own worth.