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IPO

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 | China

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.

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