Jan 13 (Reuters) - Brazil meatpacker Minerva is
considering moving its legal domicile outside Brazil, and is
leaning toward switching its listing to Nasdaq from the local
stock exchange B3, a source close to the company told Reuters on
The company said in a securities filing it had approved a
study to change its domicile, but did not specify where.
A Minerva spokesperson also declined to elaborate.
"Nasdaq was one of the stock exchanges analyzed and that
seemed to make more sense," the source later said.
Financial news website Brazil Journal reported earlier
Thursday, without citing sources, that Minerva was considering a
Minerva is the latest in a series of Brazilian companies https://www.reuters.com/markets/europe/brazilian-companies-hear-sirens-call-us-stock-exchanges-2021-12-22
seeking to relocate to the United States and list on a U.S.
exchange, fueled by a desire for broader access to investors,
lower corporate taxes, looser regulations for controlling
shareholders, and more efficient capital markets.
The success of Brazilian tech startups with U.S. listings,
such as digital lender Nubank, has spurred interest from
other sectors, ranging from retail to cosmetics, in moving their
legal domiciles mainly to the United States as well as Britain,
Ireland and the Netherlands.
Last year, Brazil's JBS SA, the world's largest
meat processor, said it would also pursue this year a U.S.
listing of its international operations.
(Additional reporting by Carolina Pulice; Editing by Chris
Reese and Richard Chang)