Hong Kong's WH Group Seeks Shareholder Approval for US Unit Spin-Off, Listing
Hong Kong-based WH Group, the world's largest pork producer, is seeking shareholder approval for the proposed spin-off of its U.S. unit Smithfield Foods and plans to list the business in the U.S.
WH Group said on Sunday the underlying pre-money valuation of the Smithfield Foods, the world's largest pork processor, for the offering will be no less than the net asset value of the unit, which is around $5.38 billion as of end September.
The Hong Kong firm first...
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