WH Group shareholders overwhelmingly approved Smithfield Foods’ Hong Kong-based parent company’s plans to take the world’s largest pork producer public for the first time in a decade of Chinese ownership.

WH Group, in a July proposal to the Hong Kong Stock Exchange, proposed spinning off Smithfield’s United States and Mexico operations as a public listing dubbed “Smithfield U.S. and Mexico” that would be traded on either the New York Stock Exchange or Nasdaq in the United States.

According to a WH Group news release, 99% of WH Group shareholders voted to approve the spinoff at a Dec. 6 “extraordinary general meeting,” which refers to a meeting other than the annual shareholders meeting to discuss urgent matters.

According to a Nov. 18 letter from WH Group Chairman Wan Long to shareholders soliciting their support ahead of the Dec. 6 vote, WH Group would offer up to 20% of its Smithfield shares, valued collectively at $5.38 billion as of September, pending the U.S. Security Exchange Commission’s approval, which Smithfield solicited on Oct. 4.

The Wall Street Journal reported in October 2023, citing unnamed sources, that Smithfield Foods was working with banks to potentially list its stock shares, though company officials at that time would not confirm whether a U.S. public listing was imminent.

Smithfield Vice President of Corporate Affairs Jim Monroe declined to comment on the shareholder vote.

Smithfield Mayor Steve Bowman also declined to comment, deferring to Smithfield Foods and citing the pending SEC decision. Smithfield Foods is headquartered in its namesake Virginia town.