KANSAS CITY, MO. — Minority shareholders of JBS S.A. voted to approve the company’s dual listing of shares on the New York Stock Exchange (NYSE) and the São Paulo Stock Exchange during a general shareholders’ meeting held May 23.

The two largest shareholders of JBS S.A. — J&F Investimentos and BNDESPar — reached an agreement to abstain from voting at the meeting. Shares could be listed on the NYSE as early as June.

“We believe this transaction will increase our visibility in global markets, attract new investors, and further strengthen our position as a global food industry leader,” Gilberto Tomazoni, JBS Global chief executive officer, said in April after the company announced the completion of the Securities and Exchange Commission (SEC) registration process.

Earlier this month, JBS reported its strongest first quarter earnings performance in company history. JBS net sales increased 8.5%, while net profit jumped 50.5%, with an EBITDA margin of 7.8%, for the period ended March 31, 2025.

JBS has been working to list company shares in the United States for several years. But the company’s move has been met with backlash from environmental groups as well as members of Congress due to allegations of corruption, anti-competitive business practices and negative environmental impacts. Most recently, US Senator Elizabeth Warren (D-Mass.) wrote to key executives from JBS USA and its subsidiary Pilgrim’s Pride, seeking an explanation of a $5 million donation given to the Trump-Vance Inaugural Committee ahead of approval of the company’s proposed dual listing.

“I am concerned Pilgrim’s Pride may have made its contribution to the inaugural fund to curry favor with the Trump administration,” Warren wrote to Fabio Sandri, CEO of Pilgrim’s, and Wesley Batista Filho, CEO of JBS USA, on May 19.

In the letter, she detailed a few different ongoing federal investigations into the company and that JBS could benefit from “favorable treatment from the current administration.”

Warren has previously been part of an effort to voice concerns of the JBS IPO. In January 2024, she joined a bipartisan group of senators in asking the SEC to closely examine JBS’s draft filing.

The transaction is subject to the approval of Brazil’s securities regulator, CVM. JBS is currently listed on the Brazilian stock exchange B3.