An Oakwood-based poultry producer is forging ahead with plans for an initial public stock offering.
Alan Sterling, director of marketing for Wayne Farms, confirmed Friday the company filed with the Securities and Exchange Commission to “take a portion of Wayne Farms public.”
The IPO, which is expected to raise $234 to $269 million, was filed June 15. The document states that the company aims to sell 12.8 million shares at between $18 and $21 per share.
Every year, Wayne Farms produces 2.6 billion pounds of poultry products. With 11 production centers throughout the Southeast, including one in Pendergrass, the company employs 9,000 workers.
According to its website, Wayne Farms is a “leading and innovative supplier of poultry in the food service industry.”
Once the IPO is official, shares will be listed as “WNFM” on Nasdaq.
Sterling said that due to regulations of the Securities and Exchange Commission, “we are not able to share any more details about this at this time.”