Syngenta Group is exploring a public listing in Hong Kong that could raise as much as $10 billion, according to two sources familiar with the matter. The proposal would involve offering up to 20% of the company's shares, and the business is in talks with multiple banks to manage the planned deal.
Syngenta, a Swiss-based producer of agrichemicals and seeds, is owned by the Chinese state-owned enterprise Sinochem. The company is reported to be engaging potential underwriters as it evaluates the structure and timing of a possible Hong Kong initial public offering.
If the listing reaches the $10 billion figure, it would position the flotation among the largest global IPOs in recent years. Based on the reported figures, such a raise would place Syngenta's offering behind only Rivian Automotive's 2021 IPO and LG Energy Solution's 2022 listing when comparing the largest deals worldwide over the past five years.
The potential sale of up to 20% of Syngenta's equity would represent a significant public-market entry for a major firm in the agrichemicals and seeds industry. Discussions with banks indicate preparatory steps are under way but do not constitute a final decision or confirmed timetable for the transaction.
The company's ownership by a state-owned Chinese group and the choice of Hong Kong as the listing venue are notable elements of the reported plans. The scale of the contemplated offering, if achieved, would make it one of the largest capital markets events globally in the most recent five-year period.
Summary
Syngenta Group is reportedly considering a Hong Kong IPO that could raise up to $10 billion through the sale of as much as 20% of its shares. The Swiss agrichemicals and seeds company is owned by Sinochem and is in discussions with multiple banks about managing the prospective offering. At the $10 billion level, the transaction would rank as the third-largest global IPO over the past five years, trailing only two previously large listings in 2021 and 2022.