Smithfield stock begins trading on US market at $20 per share

Smithfield Foods stock began trading on the on the U.S. stock market on January 28 with an initial public offering (IPO) price of US$20 per share.

This was well below the US$23 and US$27 per share the company had expected. The IPO consisted of 13 million shares of common stock to be sold by the company and 13 million shares to be sold by the company’s existing shareholder, SFDS UK Holdings Ltd., a wholly owned subsidiary of Smithfield parent company, WH Group.