Smithfield Unveils $522 Million IPO on Nasdaq in 2025
Deal News | Jan 28, 2025 | Paul Hastings
Paul Hastings LLP has advised Smithfield Foods, Inc. and its shareholder, WH Group Limited, on Smithfield's forthcoming initial public offering (IPO) on the Nasdaq Global Select Market, expected to close on January 29, 2025. This significant $522 million IPO involves 26,086,958 shares of common stock priced at $20.00 each. Founded in 1936, Smithfield is a prominent American food company known for its expertise in packaged meats and fresh pork products. The legal advising team from Paul Hastings was spearheaded by Colin Diamond and Raymond Li with critical contributions from several partners and associates. Paul Hastings is recognized globally for its expertise in finance, M&A, and other sectors, providing high-quality execution services to leading global corporations.
Sectors
- Food & Beverage
- Legal Services
Geography
- United States – Smithfield Foods is an American company and the IPO is taking place on the Nasdaq, a U.S.-based stock exchange.
- China – WH Group Limited, the shareholder of Smithfield, is related to China, adding a geographical dimension to the transaction involving a cross-border advisory team led by partners with expertise in Greater China.
Industry
- Food & Beverage – Smithfield Foods operates in the packaged meats and fresh pork products sector, which is a key area of the Food & Beverage industry.
- Legal Services – Paul Hastings LLP is a law firm providing legal advisory services for this IPO.
Financials
- 522 million – The total value of Smithfield's IPO expected to be raised.
- 26,086,958 shares at $20.00 each – Offering details of Smithfield's IPO on Nasdaq.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Smithfield Foods, Inc. | Target Company | Company | An American food company focused on packaged meats and fresh pork products, undergoing an IPO. |
| WH Group Limited | Selling Company (Vendor) | Company | The shareholder of Smithfield Foods, involved in the sale of shares during the IPO. |
| Paul Hastings LLP | Legal Advisor | Company | A global law firm providing advisory services on Smithfield's IPO. |
| Colin Diamond | Co-Head of the Securities and Capital Markets | People | Led the advisory team from Paul Hastings. |
| Raymond Li | Founding Partner and Chair of Greater China | People | Led the cross-border team from Paul Hastings for the IPO. |