JBS, the Brazil-based meat giant, has again been reported to be giving consideration to delaying the IPO of its international operations.
Reuters has reported JBS could postpone the listing it had lined up to take place in New York during the second quarter.
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The newswire said JBS had seen a lukewarm reaction from investors to the flotation in the wake of the Carne Fraca affair in Brazil, which saw a number of the country’s meat processors at the centre of a police probe into alleged fraud.
JBS has been one of the companies embroiled in the investigation into alleged payments to inspectors to overlook unsanitary practices. Brazil saw a number of countries place restrictions on meat exports from the country, although some have since relented.
JBS has denied any wrongdoing on its part, although the affair did lead to the company having to idle production plants and furlough workers.
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One unnamed source told Reuters said the planned listing of JBS Foods International could be put on hold until the impact of the affair on the business was analysed. Another source said the company may be waiting for a better price at which to try to list.
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By GlobalDataWhen contacted by just-food, a JBS spokesperson said: “JBS will not make any comments.”
