The Shanghai Stock Exchange has cancelled a hearing to review Swiss agrichemicals and seeds group Syngenta's initial share offering (IPO) plan, a filing posted on the exchange showed.
, was bought for $43 billion by ChemChina in 2017 and folded into Sinochem Holdings Corp in 2021.The Shanghai exchange, which planned to conduct the hearing on Wednesday, did not provide a reason for the cancellation. Companies planning IPOs on the exchange need to appear before a panel for a hearing as a requirement for proceeding with their listing.
Syngenta's Chinese parent planned to keep a majority stake after the IPO, which was set to be one of the world's biggest this year and expected to value Syngenta at around $50 billion.Our Standards:
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