SÃO PAULO – JBS S.A. shared a proposal on July 12 to list the company’s shares on both the São Paulo Stock Exchange and the New York Stock Exchange.

“Today, JBS presents a transformative value proposition to its shareholders and the market that will unlock the potential value of our global company for all stakeholders,” said Gilberto Tomazoni, JBS Global chief executive officer. “The dual listing strategy will accelerate our capacity for diversification and growth into more branded and value-added food products, reduce our cost of capital and generate greater returns for shareholders while creating opportunities for the communities where we operate and for our more than 260,000 team members around the world.”

The meatpacker stated in a securities filing that it would offer approximately 2.2 billion reais ($454 million) in a one-time dividend payment. JBS noted that the move would subject the company to regulations from the US Securities and Exchange Commission (SEC) and the Brazilian Securities Commission (CVM).

Shareholders will determine if they accept the proposal at a general meeting at an undetermined time.

JBS said the move would not impact operational structures, including assets, supply chains and financial flows worldwide.

“The market has patiently requested this next step from our company, and we believe we have responded with a compelling proposal that reinforces our commitment to Brazil, creates value for our stakeholders and should be well received by minority shareholders and the market,” Tomazoni added.

The company stated that it has annual revenues of 375 billion reais ($78 billion) and operates in 24 countries. It also has more than 330,000 customers in more than 190 countries. JBS noted that nearly 60% of its global workforce lives in Brazil and runs 130 production facilities in the country. JBS also has operations in North America, Europe, the United Kingdom, Australia and New Zealand.

“This proposal will enhance transparency and strengthen corporate governance, attracting a broader base of investors with greater financial capacity,” said Guilherme Cavalcanti, chief financial officer for JBS Global. “Importantly, the proposal will provide flexibility to finance growth through the issuance of equity while reducing the cost of capital, allowing the company to compete on an equal footing with global peers.”

JBS, which started in 1953, first became a publicly traded Brazilian company in 2007.