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.
Business & Finance
Beijing nudged Syngenta to withdraw $9 bln Shanghai IPO on market weakness
03 April 2024, 2:27 am 1 minute
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
