Key Takeaways Smithfield Foods unveiled terms Tuesday for its planned initial public offering, with the largest U.S. pork producer expecting shares to price between $23 and $27 each.The midpoint of the expected IPO price range would give Smithfield a market cap of nearly $10 billion.

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.