China Meat-Merger IPO Gives View Into Syngenta Outlook: ChartBloomberg News
China National Chemical Corp., which agreed this week to a $43 billion purchase of Switzerland’s Syngenta AG, said it would eventually sell a minority stake via an initial public offering. The largest such overseas takeover with a subsequent IPO by a Chinese company was Shuanghui International Holdings Ltd.’s 2013 acquisition of Smithfield Foods Inc. The Chinese pork producer debuted on the Hong Kong bourse the next year as WH Group Ltd. and has seen its shares drop 31 percent since, compared with an 11 percent fall in Bloomberg’s gauge of global meat processors and a 22 percent decline in the Hang Seng Index over the same period.
— With assistance by Lee Miller