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SYNGENTA WITHDRAWS ITS IPO APPLICATION ON THE SHANGHAI STOCK EXCHANGE
Apr. 1, 2024
Source: Syngenta Group news release
After careful consideration of industry environment and the company's own development strategy, Syngenta Group has decided to withdraw its application for IPO on the main board of the Shanghai Stock Exchange.
As an agricultural technology innovation enterprise operating globally, Syngenta Group will always adhere to its original aspiration of continuously improving its strength and market competitiveness. It is committed to promoting the sustainable development of global agriculture through technological innovation and high-quality services, so as to create greater value for society, business partners, customers, employees and shareholders.
Syngenta Group will continue to pay attention to China's capital market and is willing to contribute to its healthy development. The company deems it best not to maintain an open IPO application. The Company will continue to consolidate its market share and enhance its leading position in the global agricultural technology field. It will look to restart the listing process, either in China or a different global exchange, when the conditions are right. It will also explore alternate sources of funding.
About Syngenta Group
Syngenta Group is one of the world's biggest agricultural technology companies, with roots going back more than 250 years. With around 60,000 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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