Syngenta Group is reportedly considering an initial public offering (IPO) in Hong Kong next year, following its withdrawal of a 65 billion yuan ($9.1 billion) listing application from the Shanghai Stock Exchange in March 2024.
According to sources familiar with the matter, the Chinese agricultural technology giant is in preliminary discussions with financial advisors and may proceed with a Hong Kong IPO in 2025. Prior to the listing, Syngenta could divest certain non-core and unprofitable assets, though discussions remain ongoing and may not involve equity sales. A company spokesperson declined to comment.
Established in June 2020, Syngenta is a global leader in agricultural innovation, specializing in crop protection, seeds, plant nutrition products, and modern farming services. In 2017, China National Chemical Corporation (ChemChina) acquired Syngenta for $43 billion, marking the largest overseas acquisition by a Chinese company. The group was formed through the consolidation of agricultural chemical businesses under Sinochem Group and ChemChina, including Syngenta AG, ADAMA Ltd., Yangnong Chemical, and Sinofert Holdings.
Syngenta initially filed for a listing on Shanghai’s STAR Market in 2021 before shifting to the main board in 2023. However, it withdrew its application in March 2024, citing strategic considerations and global industry conditions. The company stated it would explore alternative financing methods to strengthen its global leadership in agricultural technology and revisit IPO plans at an appropriate time.
Financial disclosures show Syngenta generated $20.9 billion in revenue in the first three quarters of 2025, down 2% year-on-year, while EBITDA rose 25% to $3.4 billion. Third-quarter revenue fell 6% to $6.4 billion. Despite challenges in global agricultural markets, the company expects stable revenue and improved profitability by year-end.
Hong Kong’s IPO market has remained strong this year, with total fundraising potentially exceeding $40 billion—the highest in four years. Analysts note that improved market conditions provide favorable timing for mainland enterprises seeking listings in Hong Kong.