WASHINGTON — The potential listing of Brazilian meat processor JBS SA on the New York Stock Exchange continues to receive examination from a bipartisan group of senators.

In a letter to the US Securities and Exchange Commission (SEC), 15 senators voiced concerns about the potential initial public offering (IPO) in the United States.

Senators who signed onto the bill include Marco Rubio (R-Fla.), Josh Hawley (R-Mo.), Cory Booker (D-NJ) and Elizabeth Warren (D-Mass.). 

“We respectfully request that the SEC staff closely examine JBS’s draft filing to ensure that the disclosures contained therein are neither incomplete nor inaccurate in any material respect,” the senators said of JBS’ potential listing.

When reached for comment an SEC spokesperson said that Gary Gensler, chairman of the SEC, would “respond to Members of Congress directly.”

JBS previously worked on a US IPO for several years, with the most recent attempt happening in 2017. However, that proposed listing was delayed following corruption charges leveled against several JBS executives by the Brazilian government.

During October 2020, the SEC fined JBS $27 million in order to resolve the ongoing bribery scheme, which included the company’s acquisition of Pilgrim’s Pride in 2009.

Several environmental groups also raised concerns to the SEC about JBS’ IPO back in August 2023.

Senators Rubio and Menendez previously sent a letter to the Treasury Department in 2019 and 2021 to look at JBS’ acquisition deals in the United States.

JBS provided a statement to MEAT+POULTRY on the proposed dual listing, which was first announced in July 2023.

“JBS is confident our dual listing proposal will create opportunities for our company, team members, shared communities and all stakeholders,” said Nikki Richardson, spokesperson for the company. “The proposal accelerates our efforts to enhance corporate governance and transparency through adherence to Securities and Exchange Commission (SEC) standards and the formation of a majority independent board. We recognize the important role of civil society, and we are always open to dialogue with thoughtful stakeholders who share our commitment to a more sustainable future. We look forward to enhancing our collaboration with NGOs and other key stakeholders during this next phase in the company’s evolution.”