ChemChina looks to raise $10b from Shanghai IPO of agrichemical firm Syngenta
Swiss agrochemicals maker Syngenta’s logo | REUTERS/Arnd Wiegmann
ChemChina is aiming to raise around $10 billion from a Shanghai IPO for Swiss agrichemical giant Syngenta Group, in what is set to be the world’s largest flotation this year, sources with direct knowledge of the matter told Reuters.
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Swiss agrichem giant Syngenta starts ‘tutoring’ process with banks ahead of Shanghai IPO
China International Capital Corp, BOCI, and Citic Securities are involved in the process.
ChemChina wants to list Syngenta on China’s technology-focused STAR market in mid-2020.
The fundraising efforts and eventual stock market listing are designed to cut ChemChina’s debts.
Syngenta was listed on the SIX Swiss Stock exchange when it was bought by ChemChina in 2017.
