Reuters: IPOX® CEO Josef Schuster on Smithfield Foods’s IPO

Josef Schuster, founder and CEO of IPOX Schuster LLC, recently shared his insights on the upcoming IPO of Smithfield Foods, which aims for a valuation of up to $10.73 billion. The pork producer's return to the U.S. stock market after over a decade is one of the first major consumer IPOs of the year, potentially setting a precedent for other companies in the sector.

Commenting on the potential impact of the offering, Schuster noted: "As the first major consumer IPO this year, Smithfield will be closely watched. Success of the deal could pave the way for other IPOs across industries, in particular if the deal performs well initially."

Smithfield’s listing reflects a renewed interest in consumer goods IPOs, following a period of relatively fewer listings. As one of the largest U.S. listings by a food company since Oatly Group AB's flotation in 2021, it could signal renewed investor appetite for established, recognizable brands.

Schuster’s remarks align with a broader industry view that a successful Smithfield offering could stimulate further activity in the IPO market, particularly within the consumer goods space.

The company, which produces packaged meats and pork products under brands like John Morrell, Cook's, and Gwaltney, plans to raise up to $939.6 million by offering 17.4 million shares each from Smithfield and WH Group, priced between $23 and $27 per share. Smithfield will trade on the Nasdaq under the symbol "SFD."

Read the full article on Reuters: https://www.reuters.com/business/retail-consumer/smithfield-foods-targets-up-107-bln-valuation-us-ipo-2025-01-21/

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SchusterWatch #771 (1/20/2025)