JBS expects US listing delay to let more shareholders vote on deal

SAO PAULO: Brazil’s JBS SA says its planned listing in the United States will likely be delayed into the second half of 2024 as the world’s largest meat producer works to allow more investors to vote on the move.

The Sao Paulo-traded company plans to file a new registration statement to the US Securities and Exchange Commission (SEC) after its earnings release on March 26, according to chief financial officer Guilherme Cavalcanti. The move, which is aimed at allowing owners of JBS’s American depositary receipts to vote on the transaction, means it is “unlikely” that the food processor will have time to get the proposal approved by shareholders before the end of June.