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WH Group Limited ( (HK:0288) ) just unveiled an announcement.
WH Group Limited has announced the partial exercise of the over-allotment option related to the proposed spin-off of its subsidiary, Smithfield Foods, Inc., which is preparing for a separate listing on the Nasdaq Global Select Market. The sale of over-allotment shares has resulted in additional net proceeds of approximately US$48 million, reducing WH Group’s stake in Smithfield to 92.7% while retaining the latter as a subsidiary. These proceeds will be utilized for general working capital, strengthening WH Group’s financial position.
More about WH Group Limited
WH Group Limited is a company incorporated in the Cayman Islands with a focus on the food industry, primarily dealing with the production and processing of pork products. It is known for its ownership of Smithfield Foods, Inc., a major player in the global meat processing industry.
YTD Price Performance: 1.17%
Average Trading Volume: 4,093
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $10B
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