Smithfield Foods is targeting a valuation of up to $10.73 billion in its New York flotation, the Farmland bacon maker said on Tuesday, moving closer to its much-anticipated U.S. stock market return after more than a decade.

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

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 plans a $100 million IPO to expand infrastructure. Learn why SFD stock could benefit from global pork market growth and dividend plans.

Smithfield Foods is targeting a valuation of up to $10.73 billion in its U.S. initial public offering, the Farmland bacon maker said on Tuesday, moving closer to its much-anticipated stock market return in the country after more than a decade.

CORRECTION: An initial version of this story misspelled Smithfield Foods Inc. in the headline. Smithfield Foods Inc. is offering Wall Street a seat at the table for potential growth in its packaged meats business as the bacon and lunch-meat maker set an estimated market capitalization of nearly $11 billion in its upcoming initial public offering.

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.