Shanghai Cancels Planned Hearing for Mega Syngenta IPO
- Syngenta has been planning to raise about $9.4 billon in IPO
- Company filed prospectus for Shanghai IPO about 20 months ago
This article is for subscribers only.
The Shanghai stock exchange called off a hearing about Syngenta Group’s proposed 65 billion yuan ($9.4 billion) initial public offering, adding another hurdle on the road to the biggest planned listing of the year.
The exchange didn’t give a reason for the move, which came just a day before the meeting was scheduled, saying only that “the situation warrants a cancellation.” Official approval is key for the seed and fertilizer giant to kick off its long-awaited IPO.