China’s Smithfield Investors Look to Hong Kong for IPO

Jul 18, 2013

Source Says Smithfield Plans to List Company in Hong Kong Stock Exchange after Takeover

By Amanda Brodhagen, Farms.com

China’s Smithfield Foods Inc. bidders - Shuanghui International Holdings may list the company in Hong Kong if the proposed takeover goes through. Knowledge of this planned move was first reported by Reuters who obtained the information from an anonymous source.

The greater appetite for risk in Hong Kong would allow the new company to achieve a higher market capitalization in its IPO, compared to for example the New York Stock Exchange, where Smithfield is currently listed.

Hong Kong is an established international trade centre - its free market economy provides a reliable exit route for investors overseas if and when they decide to sell their holdings. These companies include Goldman Sachs and New Horizons.

Smithfield said it was not aware and would not speculate if the combined company’s rumoured plan is to list in the Hong Kong Stock Exchange. The value of the deal was pegged at $7.1-billion, including debt.

Video: Winter Service Inspections for John Deere Equipment - The FarmCast Ep64

The FarmCast, host Troy Randall speaks with Doug Luedke, Vice President of Service, and Davin Peterson, Executive Vice President of Aftermarket at 21st Century Equipment, to discuss the importance of proactive service and how it helps farmers reduce downtime during their busiest seasons. The conversation focuses on the Winter Service Inspection Program, a comprehensive approach designed to keep equipment running at peak performance and limit costly in-season breakdowns through preventative maintenance and expert technician support.

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