WH Group Said to Plan Lower Valuation for $2.36 Billion IPO

WH Group Ltd., the world’s biggest pork producer, plans to seek a valuation of about 11.5 times estimated 2014 earnings for its $2.36 billion Hong Kong initial public offering, said people with knowledge of the matter.

WH Group plans to offer as many as 2.95 billion shares at HK$6.20 each, including a so-called greenshoe option, said the people, who asked not to be identified because the information is private. The company sought a valuation of at least 15 times earnings in its previous IPO attempt in April, when it was seeking to raise as much as $5.3 billion, a person familiar with the matter said at the time.