Smithfield Foods ( SFD) 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 expected to be between $23.00 and $27.00 per share. The range values the Virginia-based company at $10.7 billion at the high point.

Smithfield Foods, Inc., announced that it has “commenced the roadshow” for an underwritten initial public offering of 34,800,000 shares of its common stock.

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.

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.