New stock news | It is reported that Xianzhengda Group is expected to submit a confidential application for listing in Hong Kong as early as June, with fundraising potentially reaching $10 billion.

According to media reports, China National Chemical Corporation's agrochemical and chemical giant Syngenta plans to confidentially submit its listing application to the Hong Kong Stock Exchange as early as June this year. It was previously reported that Syngenta's fundraising could be as high as $10 billion (about HK$78 billion), which could become one of the largest new stock fundraising activities in Hong Kong in recent years. Syngenta had previously been reported to plan to submit its listing application to the Hong Kong Stock Exchange in the second quarter. If the plan goes ahead, the company has a good chance of becoming the "fundraising king" of new stocks in Hong Kong this year, and could be one of the largest new stocks in Hong Kong in the past decade. Reports cited sources as saying that Syngenta has selected CICC and Goldman Sachs as the main IPO underwriters, and has hired Bank of America, CITIC Securities, and UBS to participate in the IPO process, with the specific timing of the listing depending on market conditions. Headquartered in Switzerland, Syngenta was acquired by China National Chemical Corporation for $44 billion in 2017, making it the largest overseas acquisition by a Chinese state-owned enterprise at the time. The company had applied for a listing in Shanghai in 2021, but withdrew the application in March 2024 citing "market volatility." Regarding the listing timetable, a Syngenta spokesperson had previously stated that they would continue to evaluate their capital market strategy based on market conditions and other relevant factors to maximize shareholder value, stressing that they would return to the capital market when the time was right. Information shows that Syngenta is one of the world's largest agricultural technology and innovation companies, with over 56,000 employees in over 90 countries. Its products and solutions help large and small farmers address various challenges, including crop efficiency and climate change, as well as achieving more sustainable development and biodiversity.