Understanding the Market | WH Group rises over 2% as its subsidiary Smithfield submits IPO application for US stock market
WH Group rose over 2%, as of the time of writing, up 2.25% to HKD 5.92, with a trading volume of HKD 78.5524 million. In terms of news, WH Group's subsidiary Smithfield Foods has submitted documents for an initial public offering (IPO) in the United States, stating in its announcement that it plans to list on NASDAQ under the stock code "SFD." WH Group mentioned that the Smithfield offering is expected to commence subject to market conditions and must await the SEC's declaration of the effectiveness of the registration statement. Currently, the number and amount of Smithfield shares to be offered and sold in the Smithfield offering have not been determined. The company will issue further announcements regarding the Smithfield offering in due course. CICC previously indicated that the spin-off listing of Smithfield would benefit the group by strengthening regional management and fundraising capabilities, and would also help boost WH Group's overall valuation
According to Zhitong Finance APP, WH Group (00288) rose over 2%, with a current increase of 2.25%, trading at HKD 5.92, with a transaction volume of HKD 78.5524 million.
In terms of news, WH Group's subsidiary Smithfield Foods has submitted documents for an initial public offering (IPO) in the United States, stating its plan to list on NASDAQ under the stock code "SFD." WH Group mentioned that the Smithfield offering is expected to begin, subject to market conditions, and must await the Securities and Exchange Commission's announcement of the effectiveness of the registration statement.
Currently, the number and amount of Smithfield shares to be offered and sold in the Smithfield offering have not been determined. The company will issue further announcements regarding the Smithfield offering in due course. CICC previously indicated that the spin-off listing of Smithfield would benefit the group in strengthening regional management and fundraising capabilities, as well as enhancing WH Group's overall valuation