NEWS
Chinese Pork Giant Shelves IPO
Tue Apr 29, 2014 01:18 PM CDT

HONG KONG (AP) -- Chinese pork giant WH Group, which bought U.S. producer Smithfield Foods last year, is shelving its multibillion-dollar Hong Kong IPO as investor demand sags amid rocky financial markets, the company said Tuesday.

The decision to abandon the share offering complicates the company's efforts to pay off loans it took out to complete the takeover of Smithfield; a deal that turned it into a global butcher with the means to source cheap U.S. pork to feed rising demand in China.

"In light of deteriorating market conditions and recent excessive market volatility, the company, having consulted the joint sponsors, ...

Quick View
  • Betting on Shorter Beans Researchers at the University of Nebraska and Purdue University have pinpointed a gene that produ...
  • Super Food Silage has never gone out of fashion in Bath County, Kentucky, even when the lure of $6- to $8-pe...
  • Farmers Pivot Back After Storms The majority of center pivots damaged by severe weather earlier this summer in Nebraska are up an...
  • Pick Contingency Plans - 3 As crop prices and insurance coverage swoon, farmers may need to supplement incomes with federal ...
  • Weathering the Drought Parts of the panhandle and western Oklahoma are still considered as being in extreme or exception...
  • AFBF Appeal The American Farm Bureau Federation asked a federal appeals court to reverse a lower court's Sept...
  • Pick Contingency Plans - 2 Commodity payments are largely capped at $125,000 per person. People must also report under $900,...
  • Ask the Vet Some tips on fly control.
Related News Stories
China Battles Big Cotton Reserves
China Reform May Add Demand
China Is Awash in Grain Crops
China to Import Less Wheat