![]() The new IPO system, designed to simplify listing requirements and improve registration and vetting procedures, was first adopted by the STAR Market and later rolled out to start-up board ChiNext and the Beijing Stock Exchange. ![]() The change was in line with a decision that the main board was meant to support large-scale companies with mature business models and stable earnings performance, it added.Ĭhina's securities watchdog has since February implemented new rules to broaden the registration-based IPO system to the main boards in Shanghai and Shenzhen, homes to many Chinese blue chips, part of efforts to reform the world's second-biggest stock market. fits better on the main board," the company said. It said it decided to switch focus following China's recent listing rule changes to more clearly define the roles of different boards. "Syngenta Group has withdrawn its STAR Market IPO application and will immediately apply for a public listing on the main board at the Shanghai Stock Exchange," the Chinese-owned company said in a statement. Syngenta is seeking to rescue its 65-billion-yuan ($9.4-billion) IPO, which hit the buffers after the Shanghai bourse canceled a hearing without providing a reason in late March. ![]() ZURICH, May 18 (Reuters) - Swiss agrichemicals and seeds group Syngenta has withdrawn its application to float on Shanghai's tech-focused STAR Market and will instead seek a listing on the main board of the Shanghai Stock Exchange, the company said on Thursday. ![]()
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