($1 = 6.8821 Chinese yuan renminbi) (Reporting by Meg Shen and Twinnie Siu; editing by Jason Neely, Jane Merriman and Louise Heavens)
(Adds company response in third paragraph)
HONG KONG, March 28 (Reuters) - The Shanghai Stock
Exchange has cancelled a hearing to review Swiss agrichemicals
and seeds group Syngenta's initial share offering (IPO) plan, a
filing posted on the exchange showed.
Syngenta, which planned to raise 65 billion yuan ($9.44
billion) in its Shanghai flotation, was bought for $43 billion
by ChemChina in 2017 and folded into Sinochem Holdings Corp in
2021.
The company declined to comment on the development on
Tuesday.
The Shanghai exchange, which planned to conduct the hearing
on Wednesday, did not provide a reason for the cancellation.
Companies planning IPOs on the exchange need to appear before a
panel for a hearing as a requirement for proceeding with their
listing.
Syngenta's Chinese parent planned to keep a majority stake
after the IPO, which was set to be one of the world's biggest
this year and expected to value Syngenta at around $50 billion.
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