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Syngenta Revives Hong Kong IPO Plans
Syngenta is a Chinese-owned company. It plans to sell shares in Hong Kong.
This is called an IPO, or initial public offering. When a company does this, it first sells shares to the public.
Syngenta had scrapped plans to list in Shanghai. Now the company is expected to choose banks for the Hong Kong listing. This could be a major IPO for Hong Kong.
Klear Note — An IPO lets companies raise money by selling shares to public investors. Hong Kong is a major financial hub where many Chinese companies list shares.
Key Terms 3
- IPO (initial public offering)
- When a company first sells shares to the public for the first time.
- Syngenta
- A large company that makes seeds and farm chemicals. It is owned by China National Chemical Corporation.
- Hong Kong
- A major financial city in Asia where companies list shares on the stock market.