Beijing nudged Syngenta to withdraw $9b Shanghai IPO on market weakness

Beijing nudged Syngenta to withdraw $9b Shanghai IPO on market weakness

A logo is seen at the headquarters of agricultural chemical maker Syngenta in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo

Chinese authorities nudged Swiss agrichemicals and seeds group Syngenta to withdraw its application for a long-delayed $9 billion IPO in Shanghai on concerns about the impact a sizeable new offering would have on a volatile market, four people said.