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JBS Debuts on NYSE With Batista Brothers Reinstated After Corruption Scandal

Opening at $13.65 per share, the listing proceeds despite lawmaker resistance over its past bribery record.

A woman walks in front of the JBS meat factory, in Montenegro, Rio Grande do Sul, Brazil, December 5, 2024. REUTERS/Diego Vara/File Photo
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Overview

  • JBS shares opened at $13.65 on the New York Stock Exchange, valuing the company at roughly $30 billion.
  • Joesley and Wesley Batista have returned to JBS’s board and renewed high-level access to President Lula’s government.
  • The SEC approved the dual-listing in April despite bipartisan congressional objections to the company’s history of bribery.
  • Pilgrim’s Pride’s $5 million donation to the Trump-Vance inaugural committee has drawn scrutiny over a potential quid-pro-quo.
  • JBS has pledged full cattle-purchase traceability by 2025 and net-zero carbon emissions by 2040, but critics question its environmental and ethical commitments.