Shares in JBS, the world’s largest animal protein producer, made a strong debut on the New York Stock Exchange, marking a historic milestone for the company. Trading under a dual-listing in both Brazil and the US, JBS shares opened at US$13.65 and climbed to US$14.58 before closing at $13.87. This move comes after JBS’s minority shareholders approved the plan to list its shares on both the NYSE and Sao Paulo’s B3 exchange, aiming to broaden its investor base and access more competitive interest rates for growth financing.
JBS, known for its significant presence in beef, pork, and chicken processing across South America, North America, and Australia, reported a robust 2024 revenue of US$77.18 billion and net income of US$1.96 billion. The decision to list on the NYSE was part of a strategic effort to enhance oversight from regulators and tap into global capital markets, as approved by the US Securities and Exchange Commission after a two-year process.
The company’s listing faced resistance from various quarters, including concerns over corruption charges against senior JBS personnel and environmental issues related to deforestation in Brazil. Despite these challenges, JBS’s move to list in the US was seen as a significant achievement, given its status as the world’s largest meat company with operations spanning beef, pork, and chicken processing, employing over 72,000 people in the US alone.
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JBS CEO Gilberto Tomazoni expressed pride in the company’s NYSE listing, highlighting its resilience, determination, and commitment to long-term value creation for stakeholders. The company’s CFO, Guilherme Cavalcanti, emphasized the strategic importance of the NYSE presence in optimizing JBS’s capital structure and expanding its investor base for sustainable growth.
Market dynamics and consumer preferences played a role in JBS’s decision to list in the US, with American consumers showing a strong demand for protein products. JBS’s move to join the NYSE reflects its strategic vision for future growth and value creation, aligning with its goal of delivering shareholder value, supporting its workforce, and serving the communities in which it operates.
With a market valuation of approximately US$16 billion, JBS’s listing on the NYSE positions it as a formidable player in the global meat industry, competing with established players like Tyson Foods. The company’s entry into the US stock market signifies a new phase in its journey, marked by financial strength, a clear growth strategy, and a commitment to sustainable business practices.
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