SMITHFIELD FOODS INC (SFD) plans to raise $870 million in an initial public offering on Tuesday, January 28th, IPO Scoop reports. The company plans to issue 34,800,000 shares at a price of $23.00-$27.

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.

Smithfield Foods on Tuesday unveiled terms for its planned initial public offering, with the largest U.S. pork producer expecting shares to price between $23 and $27 each.

Smithfield Foods is targeting a valuation of up to $10.73 billion in its New York flotation, the Farmland bacon maker said on Tuesday, moving closer to its much-anticipated U.S. stock market return after more than a decade.

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 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 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.