JBS Shareholders Approve U.S. Listing Despite Opposition

JBS, the Brazilian meat-processing giant, is set to begin trading on the New York Stock Exchange after shareholders approved its dual-listing plan despite strong opposition from environmental groups and U.S. lawmakers, the Associated Press (AP) reported.

JBS is the largest beef producer in the U.S. and second-largest producer of poultry and pork. I Photo: JBS

Shareholders voted in favor of a plan to list shares in both São Paulo and New York.

The company, which operates 250 facilities in 17 countries and generates half its revenue in the U.S., expects to start trading on the NYSE on June 12 following SEC approval.

JBS is the largest beef producer in the U.S. and second-largest producer of poultry and pork.

Environmental watchdog Mighty Earth criticized the move, citing the company’s record of deforestation, corruption, and monopolistic practices. JBS CFO Guilherme Cavalcanti said the dual listing will give the company “broader access to investors” and lower financing costs.