JBS, a leading global food company, has received approval from minority shareholders to proceed with its plan to list shares on the New York Stock Exchange, alongside an existing listing in Sao Paulo. Despite opposition from environmental groups and concerns regarding past corruption, JBS's CEO expressed confidence in the benefits of this dual listing, which he believes will enhance the company's global profile and attract new investors. JBS is America’s top beef producer, with substantial revenue from the U.S. market.
last fall, 20 environmental organizations-including Mighty Earth, Greenpeace and Rainforest Action Network-signed an open letter to JBS investors opposing the listing, saying it would put the climate at greater risk.
The outcome showed shareholders were confident in the benefits a dual listing would bring. The company said before the vote that listing shares in the U.S. would boost its global profile and attract new investors.
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