BASEL, Switzerland--(BUSINESS WIRE)-- Syngenta Group has withdrawn its STAR Market IPO application and will immediately apply for a public listing on the main board at the Shanghai Stock Exchange.
The decision was made after China fully rolled out its registration-based share issuance scheme across the country in February – a move that will further improve China’s capital market and clearly define the roles of different boards. Now that the main board of the Shanghai Stock Exchange is meant mainly to support large-scale companies with mature business models and stable earnings performance (blue chips which are good representatives of their respective industries), we believe Syngenta Group, as a leading global agricultural technology company, fits better on the main board of Shanghai Stock Exchange, under its latest registration-based IPO scheme. This main board listing will enable Syngenta Group to access more diversified investors and will be conducive for the company’s long-term value.
About Syngenta GroupSyngenta Group is one of the world’s biggest agricultural technology companies, with roots going back more than 250 years. With more than 57,000 employees, operating in more than 100 countries, the company strives to transform agriculture with science-driven, technological innovations to deliver high productivity and high-quality food while fighting climate change and restore nature. Syngenta Group is working with farmers to enable Regenerative Agriculture - an outcome-based food production system that nurtures and restores soil health, protects the climate and water resources and biodiversity, and enhances farms' productivity and profitability. Syngenta Group, which is registered in Shanghai, China, and has its management headquarters in Switzerland, draws strength from its four business units: Syngenta Crop Protection, headquartered in Switzerland; Syngenta Seeds, headquartered in the United States; ADAMA®, headquartered in Israel; and Syngenta Group China. Together, these businesses provide industry-leading ways to serve customers around the world.
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This document may contain forward-looking statements, which can be identified by terminology such as “expect,” “would,” “will,” “potential,” “plans,” “prospects,” “estimated,” “aiming,” “on track” and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. For Syngenta Group, such risks and uncertainties include risks relating to legal proceedings, regulatory approvals, new product development, increasing competition, customer credit risk, general economic and market conditions, compliance and remediation, intellectual property rights, implementation of organizational changes, impairment of intangible assets, consumer perceptions of genetically modified crops and organisms or crop protection chemicals, climatic variations, fluctuations in exchange rates and/or grain prices, single source supply arrangements, political uncertainty, natural disasters, and breaches of data security or other disruptions of information technology. Syngenta Group assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.
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Source: Syngenta Group
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