Smithfield Foods was valued at $7.7 billion after its shares fell 3.2% on Tuesday, in a muted debut that might prompt other IPO candidates to tread cautiously.

KEY TAKEAWAYS 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.The IPO marks a return to a U.

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

Smithfield Foods, the largest pork processor in the U.S., said it priced its initial public offering well below its forecast range, raising $521.7 million for the company and the selling stockholder.