Meat processor National Beef Inc. said Tuesday it has filed with the U.S. Securities and Exchange Commission for a proposed initial public offering to raise up to $300 million. However, the number of shares to be offered and the price range of the offering have not yet been determined. The company intends to have its common stock listed on the New York Stock Exchange under the ticker symbol "NBP." The Kansas City, Missouri-based company said it plans to use a portion of the proceeds from the IPO of its Class A common stock to acquire units of National Beef Packing Co. LLC. BofA Merrill Lynch and Credit Suisse Securities USA LLC will act as joint book-running managers of the offering. National Beef, Inc. was incorporated in October 2009 for the purpose of becoming the managing member of, and holding an ownership interest in, National Beef Packing Co. LLC, or NBP. National Beef, the nation's fourth-largest beef processor, sells fresh and frozen beef, case ready beef and beef by-products to customers in the U.S. and international markets.
For the nine months ended May 30, 2009, the company's net income rose 84.6% to $73.3 million from $39.7 million in the year-ago period, while net sales declined 4.2% to $4.05 billion from $4.23 billion a year ago. The company accounted for about 14% of the federally inspected steer and heifer slaughter in the U.S. during the company's fiscal year ended August 29, 2009, as reported by the U.S. Department of Agriculture.
National Beef's announcement of an IPO comes months after it called off a proposed acquisition by Brazil-based beef producer JBS SA, as the deal was challenged on antitrust grounds by the Justice Department and 13 states. Meanwhile, JBS intends to spin off its U.S. unit in a $2 billion IPO expected in January 2010.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.