US farm with 93,000 hectares for sale: 10,000 cattle on 2 islands.
10,000 cattle, deer, bison, and a slaughterhouse in the middle of nowhere. One of the largest slaughterhouses in Alaska is located on the storm-battered Umnak Island.
With its IPO in the US, meat giant JBS aims to attract new investors and fresh capital.
The Brazilian meat conglomerate JBS plans to go public in the United States later this year. Currently, the company is only listed on the stock exchange in São Paulo. According to Reuters, the world's largest meat producer aims to attract new investors and strengthen its position in the international capital markets through a dual listing.
JBS by the Numbers
JBS is one of the largest food companies in the world. It considers itself the largest beef, poultry, and second-largest pork producer. The company operates over 250 facilities in 17 countries and exports its products to more than 180 countries. Founded in Brazil 71 years ago, JBS now employs 280,000 people globally. In 2023, the company reported revenues of around €64.2 billion.
Dual Listing to Attract Investors
After completing the registration process with US authorities, the company's board has called for an extraordinary shareholder meeting on May 23. This was announced by the company earlier this week.
At the meeting, existing shareholders will vote on the proposal to dual list JBS shares on the New York Stock Exchange (NYSE) and the Brazilian stock exchange B3.
Minority Shareholders Decide on Swift Action
If shareholders approve, the company is expected to begin offering shares on the US market as early as June this year. However, the transaction still requires approval from the Brazilian Securities and Exchange Commission.
According to company information, the decision-making authority lies with minority shareholders who own just over 30% of the outstanding shares. The two largest shareholders of the company, J&F and BNDESPar, have committed not to participate in the vote.