Smithfield Foods is targeting a valuation of up to $10.73 billion in its U.S. initial public offering, the Farmland bacon maker said on Tuesday, moving closer to its much-anticipated stock market return in the country after more than a decade.

Smithfield Foods Inc.’s initial public offering is seeking to raise as much as about $940 million, in what would be the biggest food company listing in the US in more than three years.Most Read from B

Smithfield Foods on Tuesday unveiled terms for its planned initial public offering, with the largest U.S. pork producer expecting shares to price between $23 and $27 each.