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Financial News: JBS: Company Deems IPO In The U.S. A

JBS: Company Deems IPO In The U.S. A Strategic Option

03/29/2018 - 18:23:00 (RTTNews)

(RTTNews) - Brazilian food processor JBS plans to launch an initial public offering (IPO) in the United States but is still adopting internal measures and awaiting a favorable market window to move ahead with this plan.

"The company is preparing for the IPO," said Andr? Nogueira, president of JBS USA, during a teleconference with analysts. "The IPO remains a strategic option. The timing depends on some other steps, internally, and the market," he added.

Gilberto Tomazoni, global president of JBS, said that the offer is the "best option for unlocking value in the future." "When we have an open window, it will be a strategic action that the company will take," he said.

JBS plans to list JBS Foods International in the United States since at least 2016. In the middle of last year, the company reported that it intended to launch a bid in the second half of 2017 despite disclosures related to the involvement of the Batista brothers in a high-profile corruption scandal in Brazil.

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