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Equity Capital Markets

<ul><li>Swiss agricultural giant Syngenta Group is moving its $9.4 billion initial public offering to the main board of the Shanghai Stock Exchange and dropping a plan to go public on the Nasdaq-like STAR Market, the company said Thursday.</li><li>The unit of Chinese state-owned ChemChina said it made the decision after China fully rolled out its registration-based share issuance system <a href="https://www.caixinglobal.com/2023-02-18/china-completes-rollout-of-new-ipo-system-with-inclusion-of-main-boards-in-shanghai-shenzhen-101999504.html" target="_blank" rel="noopener">across all boards</a> in February.</li><li>Syngenta Group will be a better fit on the main board, making the stock available to more diversified investors, Syngenta said.</li></ul>

Swiss agricultural giant Syngenta Group is moving its $9.4 billion initial public offering to the main board of the Shanghai Stock Exchange and dropping a plan to go public on the Nasdaq-like STAR Market, the company said Thursday.The unit of Chinese state-owned ChemChina said it made the decision after China fully rolled out its registration-based share issuance system across all boards in February.Syngenta Group will be a better fit on the main board, making the stock available to more diversified investors, Syngenta said.

Syngenta Moves $9.4 Billion IPO to Main Board in Shanghai

Cross Asset Strategy

<ul>
<li>Property / Cover Story: Will China’s latest policy call-to-arms turn the ailing property market around?</li>
<li>
<p>Corruption /Exclusive: Two ChemChina ex-leaders during Syngenta deal hit with corruption probe</p>
</li>
<li>Audit /Accounting: firms in China required to store audit data on mainland under new rules</li>
</ul>


Property / Cover Story: Will China’s latest policy call-to-arms turn the ailing property market around?

Corruption /Exclusive: Two ChemChina ex-leaders during Syngenta deal hit with corruption probe

Audit /Accounting: firms in China required to store audit data on mainland under new rules


CX Daily: Will China’s Latest Policy Call-to-arms Turn The Ailing Property Market Around? 

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-ag-84b1a20a-a381-401b-aa06-25b303fce01e" target="_blank" data-smartkarma-citation="entities:25035:1" rel="noopener">Syngenta AG (SYNN SW)</a> has passed the listing committee meeting to raise CNY 65bn (US$9.1bn) in a Main Board listing on the Shanghai Stock Exchange.</li>
<li>We forecast <a href="https://www.smartkarma.com/entities/syngenta-ag-84b1a20a-a381-401b-aa06-25b303fce01e" target="_blank" data-smartkarma-citation="entities:25035:1" rel="noopener">Syngenta AG (SYNN SW)</a> will be added to the SSE180 Index, <a href="https://www.smartkarma.com/entities/shanghai-stock-exchange-sse-50-a-share-index" target="_blank" data-smartkarma-citation="entities:31073:1" rel="noopener">SSE50 Index</a> and the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300 Index (SHSZ300 INDEX)</a> indices at the December rebalance.</li>
<li>Inclusion in the SSE A Share Index could take a year and that will hold up inclusion in Northbound Stock Connect and consequently in global indices.</li>
</ul>



Syngenta AG (SYNN SW) has passed the listing committee meeting to raise CNY 65bn (US$9.1bn) in a Main Board listing on the Shanghai Stock Exchange.
We forecast Syngenta AG (SYNN SW) will be added to the SSE180 Index, SSE50 Index and the CSI 300 Index (SHSZ300 INDEX) indices at the December rebalance.
Inclusion in the SSE A Share Index could take a year and that will hold up inclusion in Northbound Stock Connect and consequently in global indices.


APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-group" target="_blank" data-smartkarma-citation="entities:39907:1" rel="noopener">Syngenta Group (1844795D CH)</a> is looking to raise around US$9.2bn in its upcoming China A-share IPO.</li>
<li>Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.</li>
<li>In this note, we will talk about the not so positive aspects of the deal.</li>
</ul>



Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO.
Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.
In this note, we will talk about the not so positive aspects of the deal.


Syngenta Pre-IPO - The Negatives - Margins Remain Razor Thin and Parent on Sanction List

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-group" target="_blank" data-smartkarma-citation="entities:39907:1" rel="noopener">Syngenta Group (1844795D CH)</a> is looking to raise around US$9.2bn in its upcoming China A-share IPO.</li>
<li>Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO.
Syngenta Group (Syngenta) is one of the largest agricultural firms globally, developing, producing and commercializing a portfolio of crop protection, seeds, crop nutrition products.
In this note, we will talk about the positive aspects of the deal.


Syngenta Pre-IPO - The Positives - Giant in the Agriculture Industry Set to Benefit from Policies

Switzerland

Syngenta AG produces crop produces agrochemical products. The Company produces herbicides, insecticides, fungicides, and seeds for field crops, vegetables, and flowers. Syngenta serves customers worldwide.

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Syngenta (SYNN SW)

Syngenta Moves $9.4 Billion IPO to Main Board in Shanghai

Swiss agricultural giant Syngenta Group is moving its $9.4 billion initial public offering to the main board of the Shanghai Stock Exchange and...

Caixin Global

CX Daily: Will China’s Latest Policy Call-to-arms Turn The Ailing Property Market Around?

Property / Cover Story: Will China’s latest policy call-to-arms turn the ailing property market around? Every move taken by China to tackle its...

Caixin Global

Syngenta IPO - Index Entry Possibilities

Syngenta could raise US$9.1bn selling 20% of its shares. There will be small passive buying in December from locals. Non-inclusion in the SSE A...

Brian Freitas

Syngenta Pre-IPO - The Negatives - Margins Remain Razor Thin and Parent on Sanction List

Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO. In this note, we will talk about the not so...

Clarence Chu

Syngenta Pre-IPO - The Positives - Giant in the Agriculture Industry Set to Benefit from Policies

Syngenta Group (1844795D CH) is looking to raise around US$9.2bn in its upcoming China A-share IPO. In this note, we will talk about the positive...

Clarence Chu

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