WH IPO range puts firm value as high as $21bn: Sources

Chinese pork producer WH Group’s planned IPO valuation set the firm’s total value at between US$15.8-$21.2 billion, The Wall Street Journal reported, citing Wednesday comments from people familiar with the matter. The valuation range, firmed up early Wednesday morning, would be 15-20.8 times the company’s forecast earnings. WH Group is planning to sell around 2.9 billion new shares, or 20% of the company, in a price range of US$1.03 to US$1.45 each (HK$8 to HK$11.25), raising up to US$4.2 billion. Formerly Shuanghui International Holdings, the company bought US pork processor Smithfield Foods last year.