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Syngenta Group News: Shifts IPO Plan

Syngenta Group Shifts IPO Plans from STAR Market to Shanghai Stock Exchange's Main Board

Discover the latest news from Syngenta Group, a leading agricultural technology company known for its involvement through Syngenta Seeds & Syngenta Crop Protection, here:

Syngenta Group To Pursue Listing On Shanghai Stock Exchange (2023/05/19)

In a strategic move, Syngenta Group, a leading global agricultural technology company, has withdrawn its application for an Initial Public Offering (IPO) on the STAR Market and will instead pursue a public listing on the main board of the Shanghai Stock Exchange.

The decision follows China’s comprehensive rollout of its registration-based share issuance scheme in February, which aimed to enhance the country’s capital market and distinguish the roles of different boards. Under this new framework, the main board of the Shanghai Stock Exchange is primarily designated to back large-scale firms exhibiting mature business models and stable earnings performance. These so-called blue-chip companies are representative of their respective industries.

Given Syngenta Group’s global leadership status in agricultural technology, the company decided to align more closely with the main board’s remit under the latest registration-based IPO scheme. In addition, the main board listing would give the company access to a more diversified pool of investors, fostering its long-term value.

The announcement to pivot its IPO plans comes as Syngenta seeks to salvage its planned 65-billion-yuan ($9.4 billion) IPO, which faced hurdles when the Shanghai bourse canceled a hearing in late March without providing a reason. The change in course demonstrates the company’s determination to proceed with its IPO plans in the face of these challenges. The company expects that a listing on the main board of the Shanghai Stock Exchange will better facilitate its IPO and provide a more suitable platform for its long-term growth and investor relations.

Syngenta & FMC To Launch Grass Weed Control Technology for Rice Production in Asia (2023/05/17)

Syngenta Crop Protection and FMC Corporation have announced a groundbreaking agreement to introduce a novel technology for controlling grass weeds in rice farming in Asia. The innovative active ingredient, Tetflupyrolimet, was discovered and developed by FMC, with support from Syngenta, for its application in rice farming. Representing the first significant herbicide with a unique mode of action (DHODH – HRAC Group 28) in over 30 years, this advancement promises a solution for farmers grappling with weed resistance to existing herbicides.

Appoints Sinochem Holdings President Jiao Jian (2023/05/15)

Syngenta Group announced the unanimous election of Jiao Jian to its Board of Directors following a Board of Directors and Extraordinary Shareholders’ meeting on May 12, 2023. Mr. Jiao’s tenure as a director will take effect immediately. Currently serving as the President of Sinochem Holdings, the parent company of Syngenta Group, Mr. Jiao assumed the role in March of this year. He brings extensive experience in international business management, honed through his tenure at various high-ranking positions.

Syngenta Group Reports Q1 2023 Sales of $9.2 Billion (2023/04/27)

Syngenta Group, a global agricultural leader, has reported a 3% rise in Q1 2023 sales to $9.2 billion and a 1% increase in EBITDA to $1.9 billion compared to the same period in 2022. Growth was seen across all business units and was driven by the rising demand for sustainable agricultural products and services. The Syngenta seeds business saw significant growth due to price increases across all regions, while Syngenta crop protection businesses saw slower growth. Notably, Syngenta Group China reported a remarkable 26% sales growth, reaching $3.0 billion in Q1 2023, fueled by a surge in MAP and digital sales. The company also made strides in technology and product launches, including regulatory approval for its PLINAZOLIN® technology, two new insecticides in India by subsidiary Syngenta Crop Protection ADAMA, and AgriPro commercial hybrid wheat in the US.

Reports Strong Double-Digit Growth For 2022 (2023/03/22)

Syngenta Group announced a 19% year-on-year increase in 2022 sales, reaching $33.4bn, with all business units experiencing double-digit growth. The company’s full-year EBITDA also rose by 20% to a record $5.6bn. In the fourth quarter, sales increased by 4% compared to the same period in 2021. Sales in China increased by 21% and in the Asia Pacific (excluding China) by 3%. A subsidiary of Syngenta Crop Protection, ADAMA recorded a 16% sales increase to $6.7bn for 2022, primarily driven by strong product demand in Brazil. Syngenta Seeds also experienced a 14% sales growth to $4.7bn, with Latin America witnessing the highest increase of 27% due to strong pricing and corn growth. Syngenta Group China’s sales increased by 17% to $8.6bn, with its MAP and digital sales seeing a remarkable 76% growth to $3.1bn.

Syngenta Group Appoints Jin-Yong Cai as Independent Director (2023/03/22)

Syngenta Group has recently appointed Jin-Yong Cai as an independent director to its Board of Directors. With over 30 years of experience in the financial services industry and a deep understanding of emerging markets, Cai’s appointment is expected to significantly benefit the company’s pursuit of providing agronomic solutions and digital services to farmers worldwide.

Launches New Agriculture Accelerator (2023/03/15)

On March 14th, 2023, Syngenta Group announced the launch of “Shoots by Syngenta,” a global platform that aims to tackle agriculture’s most complex challenges, increase innovation, and advance sustainable agriculture. The platform will begin with science-based innovation challenges, connecting scientific discovery and creativity, bringing together academics, research institutes, startups, and cross-industry sectors to collaborate with Syngenta’s global network of 5,000+ scientists. Working together will create more sustainable and efficient solutions for farmers, consumers, and the planet.

Yara & Syngenta Group Joins Forces With Varda (2023/03/03)

Yara, a crop nutrition company, and Syngenta Group, an agriculture innovation company, have joined forces with Varda, a new ag-tech start-up founded by Yara, to accelerate the adoption of Global Field ID. This new technology standard facilitates field data discovery and data sharing in the agriculture and food industry. Varda’s technology digitally maps agricultural land and assigns unique IDs to land plots, creating a ‘QR code for fields’ delivered to users via an API to create a ‘common geospatial language’ for the entire industry. In addition, the system will be used as an additional data layer within the companies’ digital farming tools, building a shared reference framework to annotate field-level data, which is expected to generate multiple benefits.

The European Patent Office Decides To Uphold Syngenta’s Patent On Bred Peppers (2023/02/21)

The European Patent Office (EPO) has upheld Syngenta Seeds’ patent on naturally whitefly-resistant peppers, despite objections raised in 2014 by organizations such as Bionext. This decision contradicts a 2017 ruling that naturally occurring properties in plants cannot be patented and has sparked concerns for the future of the seed industry. Critics, including Bionext, argue that Syngenta Seeds did not innovate but used conventional breeding techniques and fear that the decision may lead to reduced plant variety, higher prices, and increased reliance on large seed companies. There are also worries about the impact on gene banks, as the EPO’s decision questions the effectiveness of the non-patenting statement that seed companies sign when extracting genetic material from these banks. Although it’s unlikely that the ruling will be appealed as the patent expires in 2027, its implications for future patent applications remain uncertain.

India Subsidiary Partners With IoTechWorld To Expand Drone Spraying In India (2023/02/10)

Syngenta India Pvt. Ltd. has announced its partnership with IoTechWorld Avigation to bring drone spraying to the agricultural sector in India. The partnership, outlined in a three-year memorandum of understanding (MoU), aims to promote Syngenta-approved insecticides using IoTech’s drone technology.

Photo by Freeman Zhou on Unsplash 

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