The public offering came in at $522 million, although the pork producer had anticipated more than $900 million.

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 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 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 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’ shares rose over their reduced initial public offering price Tuesday, as the pork producer returned to the stock market about 12 years after China’s WH Group took it private.

The offering has been priced at $20 per share, not the $23 to $27 range suggested by the meat giant last week.

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.

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