Syngenta files for year's biggest IPO with $10bn Shanghai listing

Proceeds to go toward renovations and 'strategic acquisitions': prospectus

State-owned ChemChina bought Syngenta for $43 billion in 2017 in China's largest overseas corporate takeover. (Source photos by Reuters and screenshot from Syngenta's website)

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

July 3, 2021 01:21 JST

HONG KONG -- Syngenta Group, the ChemChina-owned Swiss agrichemical company, on Friday filed an application for an initial public offering to raise $10 billion on the Shanghai STAR Market.

The company plans to sell up to 2.79 billion shares, or a 20% stake, via the IPO, according to the prospectus.