Zhitong Finance APP reports that WH GROUP (00288) announced that the pricing of Smithfield shares will be determined on January 27, 2025 (New York time), and Smithfield shares will begin trading on the Nasdaq Global Select Market on January 28, 2025 (New York time).

The offering price is set at $20 per share of Smithfield (approximately HK$155.6). According to the Smithfield offering, Smithfield will issue and sell 13.0435 million shares of Smithfield, while SFDS (an indirect wholly-owned subsidiary of this company) will sell 13.0435 million shares of Smithfield, totaling approximately 6.6% of the expanded issued share capital of Smithfield prior to the exercise of any over-allotment option.

The underwriters have the right to purchase up to an additional 3.913 million shares of Smithfield from SFDS under the over-allotment option. Assuming the over-allotment option is fully exercised, the total number of shares of Smithfield to be offered will be 30 million shares, which represents approximately 7.6% of the expanded issued share capital of Smithfield post-offering. If the over-allotment option is fully exercised by the underwriters, WH GROUP's equity in Smithfield will be diluted from 100% to approximately 92.4% after the completion of the Smithfield offering (excluding guaranteed allocation).

On January 28, 2025 (New York time), Mr. Wan Long, Chairman of the Board of Directors and Executive Director, subscribed for and was allocated 3.2 million shares of Smithfield in the Smithfield offering at the offering price and under the same terms as the other shares of Smithfield offered, representing approximately 12.3% of the shares offered in the Smithfield offering (assuming the over-allotment option is not exercised). Mr. Wan paid approximately $64 million (equivalent to about HK$0.498 billion) for the subscription.