GLOBAL protein giant JBS is formalising its long-touted move to dual listing on both the New York and Brazilian Stock Exchanges.

The company outlined the process overnight, following a board decision on Tuesday to proceed. Current shareholders will be asked to vote to approve or reject the dual listing move during an extraordinary general meeting on 23 May.

In practical terms, the dual listing is likely to have little material effect on the company’s operations in Australia, covering beef, sheepmeat and pork processing, beef lotfeeding, value-adding and aquaculture.

While the registration process is now completed with the United States Securities and Exchange Commission (SEC), the transaction is still subject to approval by Brazil’s securities regulator, CVM.

“This marks a historic moment for the capital markets, as minority shareholders will hold full decision-making power,” the JBS board said in a statement.

JBS global CEO Gilberto Tomazoni

The company’s two largest shareholders, J&F (members of the founding Batista family) and BNDESPar (Brazilian Development Bank, which has held a large stake in JBS for years), have committed to abstain from voting – leaving the decision in the hands of holders of just over 30 percent of the company’s free float.

“We believe this transaction will increase our visibility in global markets, attract new investors, and further strengthen our position as a global food industry leader,” said JBS Global chief executive Gilberto Tomazoni.

If approved by shareholders, the company expects to begin offering shares in the US market as early as June or July of this year.

During a recent analysts briefing for JBS’s full-year results, global chief financial officer Guilherme Cavalcanti said that in a best-case scenario, he thought some time in the third quarter (July-September) was the best estimate for activating the dual listing in US.

“Once completed, this step will mark a new chapter in JBS’s history — one with the potential to unlock shareholder value and broaden our investor base,” Mr Cavalcanti said.

The dual listing move has been discussed for some years, but was held up for a variety of reasons, including economic uncertainty surrounding COVID, and the ‘WeakFleish’ corruption episode in Brazil, which saw members of the Batista family jailed.

About JBS

JBS is one of the largest food companies in the world, with a diversified platform across proteins and geographies. With more than 250 production facilities in 17 countries, JBS serves more than 300,000 customers, and its products reach more than 180 countries.

Founded by butcher Jose Batista Sobrinho in Brazil 71 years ago, the company now employs 280,000 people worldwide. Its consistent growth has been driven by strategic investments, disciplined acquisitions, and continued global expansion – enabling diversification across both products and markets.

The company’s track record over the past seven decades highlights the strength of its global platform, diversified across proteins and regions, supported by strong brands and a portfolio focused on higher value-added products.

In recent years the company’s management has stressed the importance of the global footprint in evening-out supply and demand volatility from country to country.

“We’ve built a solid organisational culture, with the right people in the right places,” Mr Tomazoni said. “It’s thanks to the dedication and commitment of our team members that JBS continues to achieve exceptional operational excellence.”

The main terms of the Dual Listing can be accessed here.