Smithfield Foods Inc. (NASDAQ:SFD) Parent Company Selling 19.53M Shares

Smithfield Foods Inc. (NASDAQ:SFD) is one of the best FMCG stocks to invest in. On September 4, the company confirmed the pricing of a secondary public offering of 19.53 million shares of the company’s common stock, sold by SFDS UK Holdings Limited. The offering is priced at $23.35 a share.

Smithfield Foods Inc. (NASDAQ:SFD) Parent Company Selling 19.53M Shares

The selling shareholder has also granted underwriters a 30-day option to purchase an additional 2.93 million shares at the public offering price, less underwriting discounts and commissions. Smithfield Foods is not selling any shares of common stock and will not receive any proceeds from the sale.

Smithfield Foods Inc. (NASDAQ:SFD) is a food company that processes and sells a wide variety of value-added packaged meats and fresh pork products. It is a market leader with a diverse portfolio of brands, including Smithfield, Eckrich, and Nathan’s Famous.

While we acknowledge the potential of SFD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SFD and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 13 Best Cryptocurrency Stocks to Buy According to Wall Street Analysts and 9 Best Lidar Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.