Smithfield Foods is targeting a valuation of up to $10.73 billion in its New York flotation, the Farmland bacon maker said on Tuesday, moving closer to its much-anticipated U.S. stock market return after more than a decade.

Smithfield Foods is targeting a valuation of up to $10.73 billion (€10.4 billion) in its US initial public offering, the company said.

Key Takeaways Smithfield Foods unveiled terms Tuesday for its planned initial public offering, with the largest U.S. pork producer expecting shares to price between $23 and $27 each.The midpoint of the expected IPO price range would give Smithfield a market cap of nearly $10 billion.

Smithfield Foods on Monday made public its paperwork for its New York initial public offering as the maker of Farmland bacon and Farmer John sausages prepares for its U.S. stock market return after more than a decade.

Smithfield Foods is seeking to raise as much as $940m in a public share offering, according to the US pork processor's IPO filing. In the document registered with the US Securities and Exchange Commission (SEC),