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Syngenta's $9.4bn Shanghai IPO goes back on hold

Uncertainty festers around seed and fertilizer giant's long-stalled listing

Syngenta reported that global sales grew 19% to $33.4 billion last year, with all business units recording double-digit growth.

The Shanghai Stock Exchange called off a meeting to review a 65 billion yuan ($9.4 billion) initial public offering proposed by ChemChina's Syngenta Group one day before it was scheduled, adding uncertainty to the Swiss seed and fertilizer giant's long-stalled listing plan.

The exchange canceled a hearing set for Wednesday on Syngenta's plan to sell shares on the bourse's Nasdaq-style STAR Market, according to a Tuesday filing posted on the exchange. The exchange didn't cite a reason, saying only that the decision was made as "situations meet the criteria laid out in the cancellation regulations."

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