Swiss agrochemicals and seeds giant Syngenta Group has withdrawn its application for a listing in Shanghai.

"After careful consideration of industry environment and the company’s own development strategy, Syngenta Group has decided to withdraw its application for IPO on the main board of the Shanghai Stock Exchange,” Syngenta said in a media communication.

The company deems it best not to maintain an open IPO application. The company will continue to consolidate its market share and enhance its leading position in the global agricultural technology field. It will look to restart the listing process, either in China or a different global exchange, when the