Wayne Farms files for IPO

Reuters — Wayne Farms, the sixth-largest poultry producer in the U.S., has filed with U.S. regulators in an initial public offering of common stock.

Wayne Farms is a subsidiary of Continental Grain, one of the largest privately-held corporations in the U.S.

Citigroup, J.P. Morgan and BMO Capital Markets are underwriting the IPO, Wayne told the U.S Securities and Exchange Commission in a preliminary prospectus on Monday.

The filing included a nominal fundraising target of about US$100 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Reporting for Reuters by Avik Das in Bangalore.

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