Syngenta Wins Exchange Approval for $9.1 Billion Shanghai IPO

(Bloomberg) — Syngenta Group won approval from the Shanghai stock exchange for its 65 billion yuan ($9.1 billion) initial public offering, moving the world’s biggest potential listing this year a step closer to completion.

The Chinese-owned seed giant received the green light following a hearing Friday, according to a statement from the exchange.

The approval will come as a relief to the Swiss-headquartered concern’s Chinese state-owned parent company, Sinochem Holdings Corp. Syngenta has been working on the share sale since at least 2019, two years after it was acquired for $43 billion in China’s biggest foreign takeover.