Beijing nudged Syngenta to withdraw $9 bln Shanghai IPO on market weakness 


Business & Finance

Reuters exclusively reported that Chinese authorities nudged Swiss agrichemicals and seeds group Syngenta to withdraw its application for a long-delayed $9 billion IPO in Shanghai on concerns about the impact a sizeable new offering would have on a volatile market. 

Market Impact

The reason for Syngenta’s IPO withdrawal and the way it was managed, which have not been reported previously, underscore how Beijing is prioritising boosting investor confidence in the secondary market over the launch of new equity offerings.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & FinanceCommodities & Energy

Regions: Asia

Countries: China

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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