13 months since Smithfield Foods (SFD US) was IPO’ed, WH Group (288 HK) is currently trading around its highest implied stub, and narrowest NAV discount, inside a year
The Trade:
WH Group is trading full to its one-year average trading metrics - post Smithfield spin-off.
Forward growth drivers are seen in Smithfield and Henan Shuanghui.
Short interest in WH Group is on the rise.