Syngenta :IPO will delayed until the end of next year

Syngenta expressed that due to weak market conditions, the company will not be listed on the main market in Shanghai this year; This is the second time in years that the company has postponed an IPO. Syngenta said it still planned to complete its $10 billion IPO, but now expects it to be more likely by the end of next year. Syngenta said it was also exploring "alternative approaches" to expand its shareholder base.

In 2017, ChemChina bought Switzerland's Syngenta for $43 billion, a record for a Chinese company in a single overseas acquisition. In 2020, the agricultural chemical sector of China National Chemical Group and China Sinochem Group began to restructure, and a company named Zhongnong. vip installed the main assets of the agricultural sector under the "two", and then changed its name to Syngenta, which is now Syngenta Group, and the original Swiss Syngenta has become a part of Syngenta Group.

 The company has been working on an IPO since 2021, aiming to raise 65 billion yuan, of which 13 billion yuan is planned to be invested in expenses and reserves for cutting-edge agricultural technology research and development, 3.9 billion yuan for the expansion, upgrading and maintenance of production assets and other capital expenditures, and 7.8 billion yuan for the expansion of the Modern agricultural Technology Service Platform (MAP). $20.8 billion was used for global M&A projects, while the remaining $19.5 billion was used to repay long-term debt. If it goes ahead, it will be the world's biggest IPO this year.