Source:  Tom Johnston, MEATINGPLACE.COM, 1/28/10

JBS S.A. said Wednesday the company is delaying its $2 billion initial public offering until market demand improves, according to a report by Bloomberg.

The report quotes JBS CEO Joesley Batista as saying the company won't sell shares of its JBS USA unit until after it releases fourth-quarter earnings. The IPO may take place in the second half of the year if market conditions improve, he said.

JBS initially filed for the IPO in July 2009. After moving to acquire Pilgrim's Pride Corp. and Bertin S.A., the company said it would not launch the offering until January 2010.

JBS is looking to fund expansion of its global distribution system and case-ready program, as stated in its IPO prospectus.

Last month, JBS competitor National Beef Packing Co. announced the shelving of an IPO due to weakness in the market. The company's announcement came at a time when many companies were either lowering prices for or canceling share sales because investors weren't buying.