Smithfield Foods, the largest U.S. pork producer, raised $522 million in an IPO that was around 21% smaller than originally planned. Why it matters: There have been two big IPOs so far in 2025, and both of them bombed.

Smithfield Foods’ shares rose over their reduced initial public offering price Tuesday, as the pork producer returned to the stock market about 12 years after China’s WH Group took it private.

Smithfield Foods ( NASDAQ: SFD) opened for trading at $21.05 before settling back to $20.18 at 12:50 p.m. The early trading values the food processing giant at just over $8.0 billion.

The offering has been priced at $20 per share, not the $23 to $27 range suggested by the meat giant last week.

Smithfield Foods ( SFD, Financials) launched its IPO on Tuesday, starting trading at $21.05 before falling to $20.18 by midday. On Wednesday, shares were priced at $19.29 as of 3:34:43 PM EST, reflecting a 3.5% drop from the previous close.

Smithfield Foods and its Chinese parent raised around $522 million from the U.S. pork giant's initial public offering after pricing shares below their marketed range.

Smithfield Foods was valued at $7.7 billion after its shares fell 3.2% on Tuesday, in a muted debut that might prompt other IPO candidates to tread cautiously.

Smithfield Foods Inc. is offering Wall Street a seat at the table for potential growth in its packaged-meats business as the bacon and lunch-meat manufacturer set an estimated market capitalization of nearly $11 billion in its upcoming initial public offering.