Syngenta Group moves forward with its IPO plans
Syngenta Group has withdrawn its STAR Market IPO application and will immediately apply for a public listing on the main board at the Shanghai Stock Exchange.
Basel / Switzerland
The decision was made after China fully rolled out its registration-based share issuance scheme across the country in February – a move that will further improve China’s capital market and clearly define the roles of different boards. Now that the main board of the Shanghai Stock Exchange is meant mainly to support large-scale companies with mature business models and stable earnings performance (blue chips which are good representatives of their respective industries), we believe Syngenta Group, as a leading global agricultural technology company, fits better on the main board of Shanghai Stock Exchange, under its latest registration-based IPO scheme. This main board listing will enable Syngenta Group to access more diversified investors and will be conducive for the company’s long-term value.
About Syngenta Group
Syngenta Group is one of the world’s biggest agricultural technology companies, with roots going back more than 250 years. With more than 57,000 employees, operating in more than 100 countries, the company strives to transform agriculture with science-driven, technological innovations to deliver high productivity and high-quality food while fighting climate change and restore nature. Syngenta Group is working with farmers to enable Regenerative Agriculture - an outcome-based food production system that nurtures and restores soil health, protects the climate and water resources and biodiversity, and enhances farms' productivity and profitability. Syngenta Group, which is registered in Shanghai, China, and has its management headquarters in Switzerland, draws strength from its four business units: Syngenta Crop Protection, headquartered in Switzerland; Syngenta Seeds, headquartered in the United States; ADAMA®, headquartered in Israel; and Syngenta Group China. Together, these businesses provide industry-leading ways to serve customers around the world.
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