Syngenta IPO aims for valuation of at least $66 billion, sources say

Syngenta’s advisers are targeting a valuation of at least $66 billion in the Swiss-Chinese agrochemicals group’s planned Hong Kong listing, which is likely to take place early next year, two people familiar with the matter told Reuters. 

Why it matters

The valuation reflects Syngenta’s efforts to position itself more as a biotechnology company than as a chemicals producer, the people said. One of them added that a strong product lineup in crop protection and a development pipeline for new seed varieties resistant to disease and pests supported a high valuation.