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 will not receive any proceeds from the sale of the shares by the selling shareholder. Acting joint lead book-running managers for the proposed offering include Morgan Stanley, BofA Securities and Goldman Sachs & Co.

Smithfield Foods’ shares rose over their reduced initial public offering price Tuesday, as the pork producer returned to the stock market about 12 years after China’s WH Group took it private.