Syngenta plans to raise at least $5 billion through a Hong Kong IPO

Syngenta Group has confidentially filed for an initial public offering of shares on the Hong Kong Stock Exchange. The Swiss agrochemical company plans to raise at least $5 billion, though the amount could rise to as much as $10 billion depending on investor demand.

If the offering reaches the upper limit, it would be the largest IPO in Hong Kong since 2010. The final amount, the company's valuation, and the exact listing date have not yet been determined. Syngenta aims to sell its shares by late 2026 or early 2027.

The company is owned by China's state-owned Sinochem. Syngenta was acquired for $43 billion in 2017, after which trading in its shares was halted. The company later planned a return to the Shanghai exchange, but that process was abandoned in 2024.

Hong Kong's IPO market has picked up significantly this year. Companies have already raised $45.8 billion through primary and secondary share offerings, compared with $24 billion during the same period last year.

Source: Reuters