Brazilian beef producer JBS has begun the process to sell shares in its poultry and processed food unit through initial public offering (IPO) this year, and is seeking regulatory approvals.
The company expects to raise BRL5bn ($2.26bn) from the planned IPO.
Subject to the receipt of required regulatory approvals, JBS Foods will be listed in Novo Mercado segment of the Sao Paulo stock exchange.
JBS Foods is a major producer and exporter of poultry and pork in Brazil, was formed after JBS signed a deal to acquire Seara food processing assets from Marfrig Global Foods in June last year.
