Chicken Producer Wayne Farms Sets Terms For $250 Million IPO
June 15, 2015 | 1 min to read
Wayne Farms, a sixth largest integrated producer and processor of broiler chickens in the US, announced terms for its IPO on Monday. The Oakwood, GA-based company plans to raise $250 million by offering 12.8 million shares at a price range of $18 to $21. At the midpoint of the proposed range, Wayne Farms would command a fully diluted market value of $1.0 billion and an enterprise value of $1.1 billion.
Wayne Farms, which was founded in 1965 and booked $2.2 billion in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol WNFM. Citi, J.P. Morgan and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 22, 2015.
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