Strong debut for JBS in New York, surpassing rival Tyson

Shares of Brazilian meat giant JBS had a positive debut on the U.S. stock market last Friday, closing with gains and achieving a corporate valuation of approximately US$ 30 billion—surpassing rival Tyson Foods, which has a market capitalization of US$ 19.82 billion.

The company overcame administrative hurdles—which delayed its listing by one day—and scandals that have tarnished its reputation. At market close, the stock rose 2.78% to US$ 14.44 per share, according to Investing.

JBS has a seven-decade history and has become the largest meat company in the world, with net revenues of US$ 77.2 billion and net income of around US$ 2 billion.