WH Group to start public offering in Hong Kong

WH Group announced on Monday it will launch a public offering on the Stock Exchange of Hong Kong Ltd., marking a move into the world's capital market after successful international acquisitions.

The company's shares will be traded on April 30. The allotment result will be announced on April 29, while the offer price is expected to be determined on April 22 after a-week-long public offering from Tuesday, the announcement said.

The indicative price per share will range between 8 and 11.25 Hong Kong dollars with a total of over 182 million shares going into the exchange, making up 5 percent of the company's global offering that is expected to collect 3.55 billion U.S. dollars for WH Group.

The money will be used to repay loans, and for operation capital and other corporate purposes, the company said.

The group's chairman Wan Long hopes the listing will "raise the company's standing, promoting accountability and transparency to drive our future growth."

WH Group, previously named Shuanghui International and owning China's largest meat company Shuanghui Group, became one of the world's leading pork processors after it acquired U.S. pork producer Smithfield and bought a stake in Campofrio Food Group in 2013.

WH Group's turnover amounted to approximately 11.25 billion U.S. dollars last year, data from the company showed.