JBS Brazilian Meat Company is publicly progressing in the United States

Brazilian meat giant shares JBS He made the American public market for the first time on Friday, and opened at $ 13.65 per share.

The company’s opening trade values ​​of approximately 30 billion dollars, exceeding a competitor Tyson foods The maximum market is about 19.82 billion dollars.

JBS is now trading on the New York Stock Exchange under the “JBS” index, one day after what was expected at first. The company said it could not conclude some operating procedures in time to appear on Thursday. Its stocks were deleted from the Sao Paulo exchange in Brazil a week ago as part of the double menu plan.

Since its foundation more than seven decades ago, JBS has grown to become the largest company in the world. Last year, the company informed net revenues amounting to $ 77.2 billion and net income of $ 2 billion, according to organizational files.

JBS runs a sprawling company all over the world, with important sections in Brazil, the United States and Australia. The company also owns more than 80 % of The pride of pilgrimsAmerican poultry giant.

American JBS menu is more than 15 years. The US subsidiary company announced for the first time its plans for the public in 2009, but this step He has never fruitful After two effects. After that, in late 2016, the company said it would get an American initial public offer as part of a wider reorganization strategy. But after months, the Brazilian government began investigating corruption in the meat packaging company – including between JBS and senior executives.

J & F Investmentos, the holding company that has a controlling share in JBS, A fine of $ 3.2 billion In 2017 to settle bribery fees. Former President Josli Batista and his chief executive of his older brother, Wesley Batista, and senior shareholders of the company and its founders, managed to avoid prison sentences through cooperation with the public prosecutors. the Batistas and J& F settled With the US Securities and Stock Exchange Committee in 2020 for about $ 27 million.

The Patistas came out of the J&F in the wake of the scandal. However, they returned to the company’s board of directors last year after they were acquitted of the trading fees from the inside.

Recently, in October, the Brazilian government fined JBS to buy livestock that was illegally raised in protected lands in the Amazon.

The history of the company led to corruption and bribery Opposition From legislators on both sides of the corridor, which makes the organizers unlikely to grant their approval.

After the president Donald TrumpRe -elected, Hajj JBS pride $ 5 million donated To his fortification committee, making it the largest donor. In a statement by CNBC at the time, the company said it has a “long history of the two parties participating in the civil process” and is looking to work with the new administration.

SEC approved JBS request to study on the New York Stock Exchange in April. JBS shareholders have agreed to move with a narrow margin in the following month.