New Stock News | It is reported that Xianzhengda Group plans to list in Hong Kong this year with a fundraising goal of up to 78 billion Hong Kong dollars, which is expected to become one of the largest IPOs in the world.

According to media reports, Chinese chemical giant Syngenta, a subsidiary of ChemChina, plans to make its initial public offering (IPO) debut in Hong Kong this year, with a fundraising goal of up to $10 billion (approximately HK$78 billion), expected to be one of the largest IPOs globally this year. Sources say the company may offer up to 20% of its shares, but the details of the public offering and timing have not been determined yet and may be adjusted according to market conditions. Syngenta is one of the world's largest agricultural technology and innovation companies, with over 56,000 employees in more than 90 countries. Its products and solutions help both large and small farmers tackle various challenges, including crop efficiency, climate change, sustainable development, and biodiversity conservation. In terms of financial performance, Syngenta's EBITDA in the third quarter of last year was $900 million, up 28%, while revenue was $6.4 billion, down 6%. EBITDA for the first 9 months of the year was $3.4 billion, up 25%, with revenue of $20.9 billion, down 2%. The company has received over 1200 product approvals to date. The decrease in revenue was due to the orderly contraction of its grain and cereal trading business in China.