JBS has reportedly halted plans for an IPO of its Brazil food unit

JBS has reportedly halted plans for an IPO of its Brazil food unit

JBS has declined to comment on whether it is to delay plans for the US$1.7bn initial public offering of its food unit.

Earlier this month, JBS was reportedly "within weeks" of launching an IPO of its pork, poultry and food-processing operations.

According to a Reuters report on Friday (19 September), which cited "two sources with direct knowledge of the decision", the Brazilian meat giant has now "put off a plan" to float the unit.

The newswire suggested the decision stemmed from uncertainty regarding market volatility in line with the impending presidential elections in Brazil. The belief is  the situation "could cloud sentiment ahead of potential investor meetings".

A spokesperson for JBS refused to comment on the matter when approached by just-food today.

"The company is in a silent period regarding this matter and cannot make any comments," he said.