Smithfield Foods does not plan to close more U.S. pork processing plants, Chief Executive Shane Smith said on Tuesday, as the company returned to a U.S. exchange after more than a decade in a spinoff by Hong Kong-based WH Group.

Smithfield Foods and its Chinese parent raised around $522 million from the U.S. pork giant's initial public offering after pricing shares below their marketed range.

Smithfield Foods ( NASDAQ: SFD) opened for trading at $21.05 before settling back to $20.18 at 12:50 p.m. The early trading values the food processing giant at just over $8.0 billion.

The offering has been priced at $20 per share, not the $23 to $27 range suggested by the meat giant last week.