JBS defends dual listing plan despite criticism, shares fall 6%.

From Yahoo Finance: 2025-05-14 10:27:00

Brazilian meatpacker JBS SA defends its proposed dual listing structure, set for shareholder approval on May 23. The plan, announced in 2023, would list the company primarily in New York with Brazilian depositary receipts in Sao Paulo. Despite criticism from ISS, JBS CFO Guilherme Cavalcanti argues the structure ensures strong control by a shareholder with industry expertise. JBS posted strong first-quarter results but expects challenges in 2025 due to the U.S. cattle cycle and global tariffs. The company’s shares fell 6% after the call with analysts. JBS urges shareholders to support the plan, which has received SEC approval for trading in New York.



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