Brazil's JBS calls shareholder meeting to vote on US listing plan
JBS SA , the world's largest meatpacker, called a shareholder meeting for May 23 to vote on its plan to list shares on the New York Stock Exchange, it said in a securities filing on Tuesday. The U.S. listing, which has been in the works for years, would provide access to a broader pool of investors and possibly aid JBS, which is now primarily listed in Brazil, in raising its valuation closer to its industry peers. Under JBS' "dual listing" proposal, its shareholders would receive one Brazilian Depositary Receipt of JBS N.V., the entity which to be listed in New York, for every two JBS' shares they own.