Smithfield Foods shareholder launches 16 million share offering

Smithfield Foods Inc. (NASDAQ: SFD) announced that its principal shareholder SFDS UK Holdings Limited will sell 16 million shares of common stock in a secondary public offering. The selling shareholder has granted underwriters a 30-day option to purchase up to 2.4 million additional shares.

The company will not sell any shares in the offering and will not receive proceeds from the sale, according to a statement from the Virginia-based food company. Morgan Stanley, BofA Securities and Barclays are serving as joint lead book-running managers for the offering.

The shares will be offered through a prospectus, with a registration statement filed with the Securities and Exchange Commission that has not yet become effective. The preliminary prospectus will be available through the SEC's EDGAR database and from the underwriters once available.

Smithfield Foods produces packaged meats and fresh pork products. The company describes itself as having a leading position in these markets with operations serving customers globally.

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