JBS SA, the Brazilian mother or father corporate of JBS USA based totally in Greeley, Colorado, has as soon as once more postponed its checklist at the New York Inventory Alternate, marking the second one lengthen on this procedure. This fresh setback is predicted to increase the timeline for JBS’ checklist to the latter a part of this yr. The preliminary lengthen was once introduced in November 2023.
In step with Bloomberg’s document, Guilherme Cavalcanti, the Leader Monetary Officer of JBS, discussed that the corporate intends to publish a brand new registration commentary to the Securities and Alternate Fee (SEC) following its upcoming profits unencumber scheduled for March 26. Very similar to the postponement in November, the main purpose is to make sure that holders of American depositary receipts have enough time to vote at the transaction.
Since JBS SA printed its intentions for a U.S. inventory checklist remaining yr, it has confronted opposition from quite a lot of quarters. Environmental organizations, together with Rainforest Motion Community, Greenpeace, and Oxfam, filed lawsuits with the SEC and buyers all through the summer time and fall, urging them to chorus from supporting the checklist. In early 2024, a bipartisan staff of senators expressed issues in an open letter to the SEC relating to JBS’ checklist plans.
This repeated lengthen in JBS’ U.S. inventory checklist displays the demanding situations and controversies surrounding the corporate’s transfer, because it navigates opposition from each environmental teams and political figures. The evolving state of affairs means that JBS is taking further measures to deal with issues and make sure a smoother checklist procedure within the later a part of the yr.