Syngenta withdraws Shanghai IPO application, will restart process in China or elsewhere ‘when the conditions are right’

Firm ‘will look to restart the listing process, either in China or a different global exchange, when the conditions are right’, Syngenta says in notice to Shanghai bourse

IPO could have raised US$9 billion in an otherwise quiet mainland IPO market

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Syngenta headquarters in Basel. Syngenta was bought out by ChemChina for US$43 billion in 2017, in the biggest overseas takeover by a Chinese company. Photo: AFP

Published: 10:30pm, 29 Mar 2024Updated: 4:20pm, 2 Dec 2025

Swiss agrichemicals and seeds giant Syngenta Group has withdrawn its application for a listing in Shanghai amid mainland China’s slowing equities market, dashing hopes for one of the largest share sales this year in the country’s commercial hub.

The Shanghai Stock Exchange said it had terminated a review of the company’s initial public offering (IPO) application after Syngenta applied to withdraw its IPO documents on Friday.

“After careful consideration of the industry environment and the company’s own development strategy, Syngenta Group has decided to withdraw its application for an IPO on the main board of the Shanghai Stock Exchange,” the company said in a notice to the exchange.

Syngenta added that it would continue to pay attention to China’s capital markets and “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, the company said.

Syngenta did not immediately respond to a request for comment.

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