Saatgutkonzern: Syngenta peilt offenbar Börsengang in Hongkong an

Syngenta, a seed and pesticide company based in Switzerland, is reportedly planning to list on the Hong Kong stock exchange, according to insiders and financial news agency Bloomberg. This comes after the company's delayed share sale due to the war in the Middle East. The Chinese firm, which manufactures seeds and agricultural chemicals, is considering a $5 billion IPO, contingent on regulatory approvals, with an expected listing in the coming year.

If successful, this would be one of the largest listings in Hong Kong in recent years, with companies already placing $47 billion worth of shares this year alone, more than double the amount from the same period last year. The details of the filing and volume of the offering are still being worked out, and both the timeline and size of the offering could change.

A spokesperson for Syngenta declined to comment. Syngenta previously applied for a listing in Shanghai in 2021, but withdrew the application three years later citing volatile markets. Hong Kong has since emerged as the preferred listing venue. At one point, Syngenta even considered filing an application in June of this year, but changes in leadership and the war in Iran impacted supply chains and prices in the industry.

Meanwhile, a change in the company's top management occurred when Hengde Qin took over as CEO from Jeff Rowe, who had been a strong advocate for the IPO. Syngenta produces pesticides such as herbicides, insecticides, and fungicides, and also develops seed varieties for corn, soybeans, sunflowers, grains, and vegetables. The company was acquired by the Chinese state-owned firm China National Chemical Corporation, now known as Sinochem Holdings Corporation, in 2017.

Along with the challenges faced by the agriculture sector, the approval process for the stock listing could take more time, as Syngenta may need to obtain additional licenses for its seed business, a particularly sensitive area.