Smithfield Foods does not plan to close more U.S. pork processing plants, Chief Executive Shane Smith said on Tuesday, as the company returned to a U.S. exchange after more than a decade in a spinoff by Hong Kong-based WH Group .

Smithfield Foods Inc. shares rose about 2% in the pork producer’s return to being a public company, after the stock priced below the range offered in its IPO.Most Read from BloombergTexas HOA Charged

Smithfield Foods and its Chinese parent raised around $522 million from the U.S. pork giant's initial public offering after pricing shares below their marketed range.

Smithfield will not receive any proceeds from the sale of the shares by the selling shareholder. Acting joint lead book-running managers for the proposed offering include Morgan Stanley, BofA Securities and Goldman Sachs & Co.

Smithfield Foods, which makes Nathan’s hot dogs, Eckrich deli meat and Smithfield supermarket products, reported net i

Smithfield Foods Inc.’s initial public offering raised $522 million, with shares pricing below the marketed range.

Smithfield Foods, the largest U.S. pork producer, raised $522 million in an IPO that was around 21% smaller than originally planned. Why it matters: There have been two big IPOs so far in 2025, and both of them bombed.