New stock news | Sinophar Tianjin Group appoints Tan Hengde as new CEO, market expected to boost Hong Kong IPO.

On July 1, China National Chemical Corporation's pesticide and chemical giant, Syngenta, announced that the board of directors has appointed Tan Hengde as the new Chief Executive Officer (CEO), effective from August 1 this year. Tan Hengde will succeed Jeff Rowe, who is returning to the United States after nearly 10 years with the company. Market expectations are generally positive that this personnel change will support Syngenta's listing plan in Hong Kong. In February this year, there were reports that Syngenta plans to list in Hong Kong this year, with a fundraising scale of up to $10 billion (approximately HK$78 billion). According to sources, the plan may still proceed around the end of the year, and having a CEO with a background in the region will help with this plan. In April this year, there were reports that Syngenta planned to confidentially submit a listing application in Hong Kong as early as June. In May, there were reports quoting sources that Syngenta planned to list on the Hong Kong Stock Exchange in September or October. Tan Hengde joined Syngenta's parent company, ChemChina, in 2004, became the President of Syngenta China in 2020, transferred to the Swiss headquarters in 2023, and was appointed Chief Financial Officer and Chief Operating Officer of the group in March this year. He has been a member of Syngenta's management team since 2020 and has held senior positions in business, finance, human resources, and global operations. Chairman Li Fanrong stated that Tan Hengde's unique experience in operations, finance, and business make him the best candidate for the position.