JBS nears U.S. stock listing
The meat-packing giant eyes NYSE debut by mid-2025 as it builds two new facilities in Southeast Asia.
BRAZIL – JBS SA, the world’s largest meat processor, is progressing with its long-standing effort to list shares on the New York Stock Exchange, as reported by Reuters.
A regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC) on Friday indicates that JBS may convene a board meeting on April 22 to initiate a general shareholders’ meeting.
According to the company’s estimates, that shareholder vote could take place around May 23, with trading of JBS shares in New York possibly beginning on June 12.
The move is part of a dual listing strategy, which would see JBS shares traded both in the United States and in Brazil, where the company is currently listed.
The filing states that the general meeting will only happen if the SEC approves the registration statement on Form F-4, which is still under review.
A source familiar with the process said the SEC requested tentative timelines from JBS for planning purposes, but clarified that the dates remain subject to change.
Equity analyst Igor Guedes of Genial Investimentos said the timeline shows JBS may be confident in the progress of the listing, although he acknowledged that final approval depends on the SEC.
In a separate development, the Brazilian development bank’s investment arm, BNDESPar, which is JBS’ second-largest shareholder, has announced it will abstain from the upcoming shareholder vote.
That decision has helped ease investor concerns, and JBS’ stock price in Brazil rose following the announcement.
New Investment in Vietnam
While JBS pursues its U.S. listing, the company is also expanding its operations in Southeast Asia with an investment of US$100 million in Vietnam.
The funds will support the development of two new meat processing plants, which will handle beef, pork, and poultry, with raw materials primarily imported from Brazil.
The first facility is scheduled to be built in Hải Phòng’s Nam Đình Vũ industrial park, located in the northeastern part of the country.
That site will include a logistics hub along with areas designated for meat cutting, packaging, and pre-processing.
Under a signed agreement with the Vietnamese government, the second plant will be constructed in the south, although the location has yet to be confirmed.
Construction of the second facility is expected to begin two years after the first plant becomes operational.
Combined, the projects are projected to generate approximately 500 jobs and supply products to both the Vietnamese market and neighboring countries in the region.
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