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<IPO>Sinochem's Syngenta Reportedly Tapping I-Banks for Potential HK IPO This Yr, Mulling Raising Up to USD10B
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Syngenta Group, an agricultural technology giant under China's Sinochem Group, has started picking underwriting banks for a potential IPO in Hong Kong, which is expected to be one of the largest IPOs in Hong Kong's history, foreign media reported, citing people with the knowledge of the matter. CICC and UBS are facilitating the company in preparing for the share sale, whereas other banks, including Bank of America and Goldman Sachs, may also get a role, sources divulged. Some banks have proposed an IPO fundraising scale between USD4 billion and USD5 billion, people familiar with the matter said. One person mentioned that the company may consider raising up to USD10 billion depending on market conditions and demand. Although the IPO could occur as early as this year, sources noted that it may take longer. One source mentioned that Syngenta may consider a dual listing in Zurich, but no final decision has been made. The planning is purportedly still ongoing, and details, including the scale, may change. They complemented that Syngenta may also add other underwriters. AASTOCKS Financial News Website: www.aastocks.com |
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