JBS still wants to float international division in the US
11/12/2017
Earlier this year, the company postponed a planned initial public offering (IPO) on the New York Stock Exchange of shares in its JBS Foods International BV division. This was said to be a response to declining “investor appetite” as a result of the scandal affecting its parent company.
Addressing investors and analysts at an event in São Paulo, Mr Tomazoni said this option has not been “taken off the radar” by the company despite the ongoing scandal. He insisted that the IPO remains a priority for JBS.
He also told investors that the group is seeking to reduce the company’s cost of capital, which he explained does not reflect the company’s geographical diversification. He added that JBS expects to reduce its debt levels in the coming months through cash generation and asset sales.
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