JBS Unani Meetpacking Facility at Greek, Colorado, US on Friday, February 28, 2025.
Chet Strange | Bloomberg | Getty images
Brazilian meat veteran shares JBS Started its US public market on Friday, which opened at $ 13.65 per share.
The opening business gives importance to the company for about 30 billion dollars, removes the opponent Tyson Foods’ About $ 19.82 billion market cap.
JBS is now trading a day later in the New York Stock Exchange under the Tick “JBS” one day later. The company said it could not eliminate some operating processes to start on Thursday. Its stock was removed from the Sao Paolo exchange in Brazil as part of the double-listing plan a week ago.
Since its establishment more than seven decades ago, JBS has become the world’s largest meatpacking company. Last year, the company reported a net revenue of $ 77.2 billion and net income of $ 2 billion, according to the regulatory filing.
JBS operates a huge business worldwide, which consists of significant partitions in Brazil, America and Australia. The company also owns more than 80% Pride of pilgrimageUS poultry veteran.
JBS has more than 15 years in making US listing. The company’s American subsidiary first announced a plan to become public in 2009, but the step Never came After two stay. Again, in late 2016, the company stated that it would be the US early public offering as part of a comprehensive reorganization strategy. But months later, the Brazilian government began an investigation into corruption in the meatpacking company – which included JB and its top officials.
J&F Investmentos, Holding Company who owns a controlled stake in JBS, $ 3.2 billion fine To settle bribe charges in 2017. Former chairman Josley Batista and his elder brother CEO Vesley Batista, the company’s top shareholders and the son of its founder, managed to avoid the jail sentence by collaborating with prosecutors. Batistas and J&F settled In 2020 with US Securities and Exchange Commission for about $ 27 million.
The Batistas was out of J&F in view of the scam. However, he returned to the company’s board last year after being acquitted of insider trading charges.
Recently, in October, the Brazilian government imposed a JBS fine for purchasing cattle, allegedly raised illegally in the protected land in Amazon.
Leaded the history of the company of allegations of corruption and bribery Opposition to its US list From MPs on both sides of the corridor, it is not possible that the regulators will give their approval.
After the president Donald TrumpReunion of JBS, proud of Pilgrim Donated $ 5 million For their inaugural committee, it became the single largest donor. In a statement to CNBC at that time, the company said that it had “long bipartisan history” and was ready to work with the new administration.
The SEC approved the JBS request for the list at the New York Stock Exchange in April. JBS shareholders approved the move by a narrow margin next month.
