The world’s largest animal protein producer, JBS, has been given the green light by shareholders to proceed with its dual listing on the New York Stock Exchange.

Shareholders voted in favour of the move at an extraordinary general meeting on Friday.

The dual listing means that from 12 June, the JBS stock will be traded on both the Brazilian Stock Exchange and NY Stock Exchange.

In promoting the plan, JBS said it would deliver a broader pool of investors and build capital for investment in growth and efficiency, as well as building confidence in its corporate governance standards, potentially slashing its capital costs and boosting stock valuation relative to US competitors.

JBS’s share price has more than doubled since the listing plan re-emerged almost two years ago, having been shelved during COVID.

The proposal was opposed by environmental groups and advocacy investors over concerns related to past bribery scandals involving the Batista brothers and claims over the company’s connection with deforestation in the Amazon.

The listing proposal also attracted debate among US politicians, especially after disclosure of campaign contributions to US President Donald Trump.

Some US financial advisors were against the transaction, citing concerns that the new share structure would reduce minority shareholders’ voting power. The plan creates a dual-class share structure that will give the largest shareholders, the Batista family, almost 85pc of the company voting shares, according to a filing. That’s up from about 48pc previously.

JBS plans will transfer ownership of the Brazilian company to a newly-formed Netherlands-based entity, which will trade on the NYSE.