From Yahoo Finance: 2025-05-22 17:31:00

Brazilian meat giant JBS is one step closer to trading shares on the NYSE after shareholders approved a dual listing in Sao Paulo and New York. JBS expects to begin trading on June 12, unlocking value and expanding growth opportunities. Environmental groups and U.S. lawmakers have opposed the move due to corruption and environmental destruction concerns.

JBS, one of the world’s largest food companies, generates half of its revenue from the U.S. It is the top beef producer in America and the second-largest producer of poultry and pork. Despite pushback, JBS received approval to list its shares in New York, sparking criticism from environmental groups and investors.

Glass Lewis recommended rejecting the dual listing plan, citing concerns about JBS’ history of scandals involving corruption and bribery. The return of the Batista brothers to the board raised further red flags. JBS defended its reputation, highlighting anti-corruption efforts and increased oversight with a U.S. listing.

U.S. lawmakers, including Senator Elizabeth Warren, have raised concerns about JBS’ listing on the NYSE, citing the company’s history of corruption and bribery. Pilgrim’s Pride, a U.S. company owned by JBS, was the largest donor to President Trump’s inaugural committee. The SEC’s approval raised questions about potential influence from the donation.



Read more at Yahoo Finance: JBS shareholders approve US stock listing despite pushback from environmental groups and others