WH Group, the world’s largest pork processor, has relaunched plans for a listing in Hong Kong.

The company, the parent of US group Smithfield Foods, has announced a fresh move to float three months after withdrawing initial plans for an IPO. WH Group cited “deteriorating market conditions and recent excessive market volatility” when it dropped the plans at the end of April.

The prospectus for the latest attempt did not disclose how much WH Group hoped to raise. However, an unnamed source told The Wall Street Journal WH Group wants to offer shares at 12 times its forecast earnings for 2014, which would raise US$2-2.5bn.

WH Group is proposing to sell 20% of its enlarged share capital in the IPO, the WSJ said. The publication added existing shareholders would not be offering any of their shares in the listing.

WH Group did state it planned to use the net proceeds from the listing to partially repay loans worth US$4bn.