Bacon giant Smithfield Foods’ stock rises after IPO as Wall Street bites at reduced price - MarketWatch

1. Smithfield Foods rose slightly above its IPO price of $20. 2. The IPO priced at $20 per share, lower than the expected range. 3. Smithfield raised $521.7 million by offering 26.1 million shares. 4. The company reported a net income of $581 million this year. 5. WH Group, which owns majority stake, acquired Smithfield for $4.72 billion.