Smithfield Foods Inc.’s initial public offering is seeking to raise as much as about $940 million, in what would be the biggest food company listing in the US in more than three years.Most Read from B

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 is targeting a valuation of up to $10.73 billion in its New York flotation, the biggest U.S. pork processor said on Tuesday, moving closer to its U.S. stock market return after more than a decade.

Smithfield Foods began its roadshow on Tuesday for an underwritten initial public offering of 34,800,000 shares of its common stock. The initial public offering price is