The installation of JBS Greeley machine guns in Greeley, Colorado, United States, Friday, February 28, 2025.
Chet Strange | Bloomberg | Getty images
Actions of the Brazilian meat giant JBS Rose during their beginnings on the American public market on Friday.
The opening trade of $ 13.65 per share values the company about $ 30 billion, exceeding its rival Tyson Foods' Stock market cap of approximately 19.82 billion dollars. The actions ended at $ 13.87, a slight gain for the day.
JBS is now negotiating on the New York Stock Exchange under the Ticker “JBS”, a day later than originally planned. The company said that it could not conclude certain operational procedures in time for its beginnings on Thursday. His stock was struck off from the Sao Paolo Exchange in Brazil a week ago as part of the double selection plan.
Since its foundation more than seven decades ago, JBS has become the largest company of meat debate in the world. Last year, the company declared a net turnover of $ 77.2 billion and a net profit of $ 2 billion, according to regulatory documents.
JBS operates a sprawling company worldwide, with important divisions in Brazil, the United States and Australia. The company also has more than 80% Pilgrim's prideThe American poultry giant.
JBS 'list of the United States is over 15 years old. The company's American subsidiary announced for the first time its intention to return to public in 2009, but this decision never concluded after two postpones. Then, at the end of 2016, the company said that it would have a first American public offer as part of a broader reorganization strategy. But months later, the Brazilian government began investigating corruption in the society of meat debate – including among JB and its main leaders.
J & F Investmentos, the company Holding which has a majority participation in JBS, paid a fine of $ 3.2 billion in 2017 to settle corruption charges. Former President Joesley Batista and his older brother CEO Wesley Batista, the main shareholders of the company and the sons of its founder, managed to avoid prison terms by cooperating with the prosecutors. The Batistas and J&F settled with the Securities and Exchange American Commission in 2020 for around 27 million dollars.
The Batistas left J&F following the scandal. However, they returned to the board of directors of the company last year after being paid for initiate negotiation costs.
More recently, in October, the Brazilian government sentenced JBS a fine for bought cattle that would have been illegally raised in protected land in the Amazon.
The history of corruption and allegations of corruption of the company led to the opposition to its American list of legislators on both sides of the aisle, which makes regulators unlikely to grant their approval.
After the re -election of President Donald Trump, the pride of the JBS Pilgrim subsidiary donated $ 5 million to his inauguration committee, making it the biggest donor. In a statement to CNBC at the time, the company said that it had a “long bipartite history participating in the civic process” and was eager to work with the new administration.
The SEC approved JBS request from the New York Stock Exchange in April. JBS shareholders approved this decision with a close margin the following month.