Mar. 29, 2024
Syngenta Plans to Withdraw China IPO Application on Weak Market
(AsianFin)—The Shanghai Stock Exchange on Friday said it terminated its review of Syngenta's initial public offering (IPO) application after the Swiss agro-chemicals company filed to withdraw its listing plan. The company first filed for an IPO in China’s financial hub in 2021, but its listing has been snagged by various issues. The most recent delay came in November, when the company said it would postpone its IPO until the end of 2024 because of volatile markets. That float would have raised 65 billion yuan ($9 billion). It also said it would explore alternative options for expanding its shareholder base.
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