The largest meat processing company in the world into sales volumes, São Paulo, JBS in Brazil, should start to negotiate on the New York Stock Exchange on June 12.
This decision, a double list in the United States and Brazil, aims to draw from higher flows on US dollars and increased liquidity. In the long term, the company hopes to exceed Tyson Foods based in the United States in market capitalization, consolidating as the only world leader in the sector.
Currently, JBS is estimated at around $ 16 billion, with $ 77.2 billion in revenues from 2024 from the year, against a market capitalization of $ 19.8 billion for Tyson Foods out of $ 53.3 billion in income.
But despite the apparently positive result for JBS shareholders, the double registration of the parent company of the parent company of Pilgrim remains a controversial subject both internally and externally.
Recently, American senator Elizabeth Warren has feared that the donation of $ 5 million in JBS to the inaugural committee of Trump-Vance has helped to approve the double registration.
The concerns are involved in a long history of dubious practices by Jesley and Wesley Batista, the founders and the largest shareholders of society. In 2017, the brothers – estimated that the value of around 5 billion dollars each – brought six months of incarceration in their country of origin, Brazil, on accusations of corruption.
Mighty Earth’s CEO Glenn Hurowitz also adds that the JBS list raises sustainability concerns. “Registration on the NYSE is supposed to be a signal for investors according to which a company is serious about transparency, but JBS has shown that its only play book hides the real scale of its destruction, climatic emissions and human rights violations.”
The double registration was also faced with a repression of shareholders, passing with only 52%of the vote, with affirmations that the plan introduces a double -class structure which increases the voting power of the Batista brothers to almost 85%, against around 48%. “Investors [ultimately] I chose to focus on the upward potential of action rather than governance problems, “said Igor Guedes, analyst at Gential Investmentos.