Smithfield Foods Inc.’s initial public offering is seeking to raise as much as about $940 million, in what would be the biggest food company listing in the US in more than three years.Most Read from B

Smithfield Foods is targeting a valuation of up to $10.73 billion in its New York flotation, the biggest U.S. pork processor said on Tuesday, moving closer to its U.S. stock market return after more than a decade.

Smithfield Foods ( SFD) began its roadshow on Tuesday for an underwritten initial public offering of 34,800,000 shares of its common stock. The initial public offering price is expected to be between $23.00 and $27.00 per share. The range values the Virginia-based company at $10.7 billion at the high point.

The country’s top pork processor reveals the size and price range of its long-rumored separation from China’s WH Group, but a date has not been chosen.

Smithfield, owned by China’s WH Group, said it plans to sell 34.8 million shares valued between $23 and $27 per share. That could raise up to $939.6 million for the pork producer, which owns brands including Farmland bacon and Nathan’s Famous hot dogs.

Smithfield Foods is targeting a valuation of up to US$10.73bil in its New York flotation, the biggest US pork processor says, moving closer to its US stock market return after more than a decade.

Smithfield Foods, Inc., announced that it has “commenced the roadshow” for an underwritten initial public offering of 34,800,000 shares of its common stock.

Key Takeaways Smithfield Foods unveiled terms Tuesday for its planned initial public offering, with the largest U.S. pork producer expecting shares to price between $23 and $27 each.The midpoint of the expected IPO price range would give Smithfield a market cap of nearly $10 billion.