IPO News | Rumor has it that Syngenta's Hong Kong IPO is valued at at least US$66 billion and is expected to become one of the world's largest IPOs next year

The Zhitong Finance App learned that Syngenta (Syngenta), a pesticide chemical giant under Sinochem, went public in Hong Kong and made new progress. According to media quoting people familiar with the matter, Syngenta's consulting team plans to value its Hong Kong IPO at least US$66 billion, making it likely to be one of the world's largest initial public offerings (IPOs) next year. The company is most likely to be listed early next year.

According to people familiar with the matter, UBS and CICC are promoting 15 to 20 times the expected EBITDA in 2026 to investors. Based on Syngenta's EBITDA of 4.4 billion US dollars in 2025, the corresponding valuation is about 66 billion to 88 billion US dollars.

The agrochemical group, headquartered in Basel, Switzerland, is trying to position itself as a biotechnology company rather than a traditional chemical producer. Its crop protection product portfolio and R&D pipeline for new disease-resistant and insect-resistant varieties are seen as the key to supporting high valuations.

In terms of equity sales, Syngenta of China's Sinochem Holdings plans to sell 10% to 20% of the shares and is expected to raise 5 billion to 10 billion US dollars. The capital will be used to repay debts and invest in seed and crop protection businesses. China CITIC Bank and Bank of America are also involved in underwriting.

In terms of listing time, people familiar with the matter said that the IPO is still likely to be completed before the end of this year, but the listing in January 2027 is more likely. According to reports, Syngenta was acquired by Sinochem Group for 43 billion US dollars in 2017. It had previously planned to go public in Shanghai, and then withdrew its application in 2024.