HONG KONG – WH Group Ltd., the parent company of Smithfield Foods Inc., announced on Dec. 6 that shareholders approved a spin-off plan that would list Smithfield on the New York Stock Exchange or Nasdaq Stock Market.

According to an investor relations statement from WH Group, 99.4% of shareholders voted in favor of the spin-off. The company first confirmed this idea in a filing in November, when it intended to list up to 20% of Smithfield shares. 

In its document last month, WH Group said the “unaudited net asset value” for Smithfield was $5.38 billion as of Sept. 30, 2024. 

In July, WH Group confirmed the proposed spin-off with its interest in listing the pork producer in the two American markets.

The company stated that the proposed spin-off was subject to market conditions and approval by the US Securities and Exchange Commission.