JBS Shares Rise 3% in U.S. Trading Debut Despite Scandal History

New York — Shares of Brazilian meat company JBS rose 3% on Friday as the company began trading on the New York Stock Exchange under the ticker symbol “JBS.”

The stock opened at $13.65 and closed at $13.87, giving JBS a market valuation of around $30 billion, above U.S. rival Tyson Foods.

JBS’s public debut in the U.S. had been delayed by a day due to internal procedural issues. The listing comes after the company delisted from Brazil’s São Paulo Exchange.

JBS is the world’s largest meatpacker, reporting $77.2 billion in revenue and $2 billion in profit in 2024. It owns more than 80% of Pilgrim’s Pride, a major U.S. poultry brand.

Background and Controversies

The listing comes despite JBS’s history of bribery, corruption, and environmental violations. In 2017, its parent company J&F paid $3.2 billion to settle bribery charges in Brazil. The Batista brothers, key stakeholders, later returned to the board after legal acquittals.

In October 2024, JBS was fined for sourcing cattle from illegally deforested areas in the Amazon.

Lawmakers had previously opposed the listing, but the SEC approved the IPO in April. Shareholders narrowly backed the move in May.

JBS’s U.S. arm also made headlines after donating $5 million to President Trump’s 2025 inauguration committee.