Syngenta plans to land on the Science and Technology Innovation Board with 65 billion yuan of funds raised

According to the official website of the Shanghai Stock Exchange of Sinochem News on July 2nd, the world's largest plant protection company and the third-largest seed company Syngenta Group Co.
, Ltd.
has accepted the application for listing on the Science and Technology Innovation Board, and it intends to apply for a public offering not exceeding 27.
86.
100 million shares, planned to raise 65 billion yuan
.

According to the prospectus, the Syngenta Group, which was registered in Shanghai in 2019, was established by the integration of Sinochem Group and China National Chemical's agrochemical business
.

Currently, Syngenta has four business units: Syngenta Plant Protection, Syngenta Seeds, Syngenta Group China and Adama
.

In 2020, Syngenta achieved operating income of 151.
96 billion yuan, an increase of 5.
11% year-on-year; 2020 EBITDA (profit before tax, interest, depreciation and amortization) was 26.
099 billion yuan, an increase of 2.
32% year-on-year; Net profit was 4.
424 billion yuan, which turned losses into profits year-on-year
.

According to the latest industry situation, in 2020, Syngenta will rank first in the global plant protection industry, third in the seed industry, and a leading position in the field of digital agriculture; ranked first in the Chinese plant protection industry, second in the seed industry, and crop nutrition industry Ranked first
.

According to the prospectus, Syngenta plans to raise 65 billion yuan this time, of which 13 billion yuan is planned to invest in cutting-edge agricultural technology research and development expenses and reserves, and 3.
9 billion yuan will be used for the expansion, upgrade and maintenance of production assets and other capital expenditures.
7.
8 billion yuan will be used to expand the modern agricultural technology service platform (MAP), 20.
8 billion yuan will be used for global mergers and acquisitions including Yangnong Chemical and Valagro, and the remaining 19.
5 billion yuan will be used to repay long-term debt
.

Speaking of development plans, Syngenta stated in its prospectus that in the next ten years, the company will continue to invest heavily in innovative agricultural technologies around the world to accelerate growth and achieve green development
.