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JBS Announces Proposal To Dual List In Brazil And US

RTTNews | 842 days ago

JBS Announces Proposal To Dual List In Brazil And US

(RTTNews) - Food company JBS S.A. (JBSAY.PK) announced a proposal to list company shares on the Sao Paulo Stock Exchange, using Brazilian Depository Receipts (BDRs), and the New York Stock Exchange, in order to better reflect the company's global presence and unlock value for shareholders.

The company said the dual listing strategy will accelerate its capacity for diversification and growth into more branded and value-added food products, reduce its cost of capital and generate greater returns for shareholders.

Under the proposal, Level II BDRs will be traded on B3, backed by Class A shares listed on the NYSE. Minority shareholders may cancel BDRs at any time to directly hold Class A shares. A dividend distribution linked to the dual listing will be part of the transaction, given the strategic relevance of the proposal.

The company will be subject to regulations set forth by the U.S. Securities and Exchange Commission (SEC), NYSE and the Brazilian Securities Commission (CVM).

Tags: JBSAY.PK

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