Syngenta's RM41.60b Shanghai IPO to fund growth and acquisitions

The Shanghai Stock Exchange filing showed Syngenta’s application to list on the STAR Market had been accepted and the company plans to issue up to 2.79 billion shares.

HONG KONG/ZURICH: Syngenta Group will use the proceeds from its expected $10 billion (RM41.60bil) initial public offering (IPO) to fund internal growth and an acquisition spree to snare more of the $100 billion market for seeds and sprays, the agrichemical giant said on Friday.

The company's prospectus to list on Shanghai's Nasdaq-style STAR Market was posted online by the Shanghai Stock Exchange on Friday, confirming details reported this week by Reuters after the application was filed on Wednesday.