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
  • Prepping for a Pest USDA has released a new set of pest response guidelines for Helicoverpa armigera, the voracious g...
  • Racing the Clock For Brian Marshall, the clock starts the minute a new calf hits the ground. Within the first four...
  • Hay Baling Safety Important Looking at it as a sporting event, mid-July is the halftime of the hay baling season in most of t...
  • "Easy Money Times Over" Feeding the world population won't be as hard as expected over the next decade some experts forec...
  • Weathering the Drought Parts of the panhandle and western Oklahoma are still considered as being in extreme or exception...
  • Clearing the Air EPA Administrator Gina McCarthy told a group of agribusiness representatives that her agency want...
  • Klinefelter: By the Numbers Peak prices since 2007 didn't slow megafarm consolidation. Mid-size operators may need to collabo...
  • Corn's Hidden Highways Scientists are rewriting the route to better hybrids.
  • Ask the Vet Before implanting heifers that will be bred, consult with a veterinarian to be sure fertility won...
Related News Stories
China to Import Less Wheat
Exporters Report Soybean Sale