Wall Street Banks Court Sovereign Funds for Syngenta’s $9 Billion IPO
- Citi, HSBC, JPMorgan, UBS are helping to bring in investors
- Syngenta last month won Shanghai approval for $9 billion IPO
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Wall Street banks are helping approach international investors for Syngenta Group’s 65 billion yuan ($9 billion) initial public offering in Shanghai, according to people familiar with the matter, after the Chinese-owned seed giant won regulatory approval for the world’s biggest potential listing this year.
Banks including Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co. and UBS Group AG are working on bringing in foreign investors including cornerstone buyers for the IPO, the people said. The advisers have reached out to sovereign wealth funds in regions including Europe and the Middle East to gauge their interest, said the people, who asked not to be identified as the information is private.