Netherlands-based JBS Foods International filed Monday to withdraw its registration statement for an initial public offering, a year after filing that statement. In the original December 2016 filing for an IPO, the company said it was the largest protein company, or meat producer, with $33.7 billion in revenue through the first nine months of 2016. JBS Foods did not give a reason for the withdrawal, just that it “decided not to pursue the sale of securities” at this time. The withdrawal comes at a time when the SPDR Consumer Staples Select Sector ETF has slipped 0.3% over the past three months, while the S&P 500 ahs gained 3.8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News