Intriguing IPOs: Smithfield Foods (SFD) & Infinity Natural Resources (INR)
The meat and oil industries have been kind to investors in the past.
I’m going to be busy…
When I started writing about IPOS here in 2023, I knew it was a relatively slow year for new issuances. I didn’t realize how slow it was.
The years 2022 and 2023 were the slowest of this century. The collective proceeds raised ($26.8 billion) were one-third less than those raised in 2008 and 2009. Perhaps we can chalk it up to IPO euphoria in 2020 and 2021 when companies raised $210 billion going public.
Either way, there weren’t a lot of IPO prospectuses (at least ones worth your time).
2025 is already shaping up to be a much busier year. This week, 11 companies intend to go public on the various American exchanges. As with any IPO week, there are a few black check acquisition vehicles and some “Are we sure this isn’t a joke?” listings. That said, a few of them are worth examining.
I can’t do them all in one piece, so today, let’s focus on the two "old economy” IPOs. Pork and packaged meat producer Smithfield Foods Inc. (NYSE: SFD) and oil & gas producer Infinity Natural Resources (NYSE: INR).
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