JBS Makes NYSE Debut Amid Scrutiny and Controversy
New York, NY – Brazilian meat processing giant JBS N.V. (NYSE: JBS) officially debuted on the New York Stock Exchange on Friday, closing at $13.87 per share, a slight increase from its initial offering price of $13.65. With a market valuation now around $30 billion, JBS surpasses U.S. competitor Tyson Foods, valued at $19.82 billion. The company’s U.S. listing comes as part of a dual-listing strategy, having previously delisted from the São Paulo Exchange, aimed at broadening its investor base and enhancing capital access for its $77.2 billion revenue operations.
The NYSE debut faced a 24-hour delay due to operational issues, marking a long-anticipated milestone for the firm, despite previous attempts dating back to 2009. JBS, which employs over 72,000 workers in the U.S., aims to leverage its trading presence to support long-term growth and reduce financing costs.
However, the company enters the market under a cloud of controversy. JBS’s history is marred by significant scandals, including a $3.2 billion corruption settlement in 2017 related to bribery allegations involving its parent company, J&F Investimentos. Additionally, environmental violations, such as sourcing cattle from protected Amazon territories, have drawn sharp criticism from lawmakers and advocacy groups, raising concerns about deforestation and corporate accountability.
Despite such challenges, JBS executives remain optimistic about the potential benefits of being publicly listed. CEO Gilberto Tomazoni and CFO Guilherme Cavalcanti highlighted improved access to capital and enhanced governance as key advantages of their NYSE presence.
While the debut offered a modest gain, cautious sentiment among investors remains as they look for the company to balance growth ambitions with its ethical and environmental responsibilities. The forthcoming months will be critical for JBS as it navigates market expectations and regulatory scrutiny.
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