JBS Foods' parent company, headquartered in Brazil, announced on Wednesday that it plans to conduct a dual listing on the São Paulo Stock Exchange in Brazil and the New York Stock Exchange in the United States, so as to unlock shareholder value and enhance the visibility of its global influence. At that time, JBS Foods Class A shares will be traded on the New York Stock Exchange, while Brazilian Depositary Receipts (BDRs) will be traded in São Paulo. Minority shareholders may at any time choose to convert their BDRs into Class A shares. Gilberto Tomazoni, the company's chief executive, said in a statement: "The dual-listing strategy will accelerate our ability to diversify, develop more brands and value-added food products, lower our cost of capital, and bring greater returns to shareholders." Founded in 1953, JBS Foods is a meat and protein product manufacturer with multiple brands including Swift, Primo, FRIBOI and others, operating in multiple countries such as the United States, Brazil, the United Kingdom and Australia. JBS Foods is also the world's largest meat processor, with a global food production platform, with annual revenue reaching 375 billion Brazilian reais (78 billion U.S. dollars). Although 60% of its employees are based in Brazil, the company operates in 24 countries and regions, and its over 330,000 customers span almost every country around the globe. In recent decades, the company's business in the United States has expanded rapidly. Last year, most of its nearly 80 billion U.S. dollars in revenue came from its North American beef business, the U.S. pork division, and a majority stake in Pilgrim's Pride (PPC), the second-largest chicken company in the United States. This meat processor's plan to list in the United States has been in the works for years, dating back as far as 2007. In 2016, the company announced plans to conduct an IPO for its subsidiary JBS Foods International in the first half of 2017, but these plans never came to fruition. JBS Foods' Chinese subsidiary Shiweifu Trading (Shanghai) Co., Ltd. was established in 2020, mainly engaged in the frozen meat products of the JBS Group. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting & Management Co., Ltd. is a domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same actual controller. Both companies share the same actual controller and are managed under the principle of "One China", and the companies comply with the laws of Hong Kong and mainland China.