World’s Largest Pork Company $2.36 Billion Hong Kong IPO

Cleary Gottlieb represented Morgan Stanley and BOCI, as joint sponsors, joint global coordinators, joint bookrunners and joint lead managers, in the $2.36 billion initial public offering of WH Group Limited. The deal priced on July 29 and closed on August 5, 2014. The shares began trading on the Hong Kong Stock Exchange on August 5, 2014.

WH Group Limited is the world’s largest pork company, having number one market shares in China, the U.S. and key markets in Europe. It acquired 100% equity interest in Smithfield Foods Inc, the U.S.’s largest pork company, in September 2013 and owns Asia’s largest animal protein company, Shuanghui Development, a company listed on the Shenzhen Stock Exchange. It also owns a 37% equity stake in Campofrio, the largest packaged meat company in Europe by sales.