Syngenta Closer to Shanghai IPO With Listing Hearing Next Week

Syngenta was acquired by ChemChina for $43 billion in 2017, clinching China’s biggest foreign takeover

(Bloomberg) — Syngenta Group, the Swiss seed and agrichemical giant owned by ChemChina, is moving closer to a proposed $10 billion initial public offering in Shanghai, with a listing hearing set for next week.

The Shanghai stock exchange scheduled a hearing for its listing March 29, according to a notice Wednesday.

Syngenta filed its prospectus to sell shares on Shanghai’s Nasdaq-style STAR Market about 20 months ago. The IPO process has been slow. The delay could be due to poor equity-market conditions in 2022, Bloomberg Intelligence analysts said.