Syngenta aims for valuation of at least $66 billion with IPO, sources say

Bank of America

Today 14:14

By John Revill and Oliver Hirt
ZURICH, Oct 27 (Reuters) - Syngenta's advisers are targeting a valuation of at least $66 billion in the Swiss-Chinese agrochemicals company's Hong Kong market listing, likely to be completed early next year, two people familiar with the matter told Reuters.
Banks for the Basel-based maker of seeds and crop protection products, controlled by Chinese state-owned firm Sinochem 600500.SS, are pitching its flotation at a multiple of 15 to 20 times its 2026 earnings before interest, tax, depreciation and amortisation (EBITDA), the sources said.
The valuation is the latest stage of the IPO being promoted by UBS UBSG.S and CICC bankers in China, which is expected to be among the world's biggest when it takes place. China CITIC Bank and Bank of America are also helping run the IPO.
In 2025, Syngenta posted EBITDA of $4.4 billion, a 17% increase from a year earlier, which would give it a potential valuation of $66 billion with a multiple of 15 times to $88 billion with a multiple of 20 times.
Syngenta and UBS declined to comment. CITIC, Bank of America and CICC did not immediately respond to requests for comment.

 (Reporting by John Revill and Oliver Hirt, additional reporting by Yantoultra Ngui in Hong Kong. Editing by Dave Graham and Mark Potter)
 ((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters Messaging: john.revill.thomsonreuters.com@reuters.net))