Syngenta Pulls China IPO Application After Three-Year Wait (2)

Syngenta Group withdrew its long-delayed application for a $9 billion initial public offering in Shanghai, another blow to China’s equity markets after Alibaba Group Holding Ltd. this week scrapped the listing of its logistics arm.

The Chinese-owned seed and pesticide giant “will look to restart the listing process, either in China or a different global exchange, when the conditions are right,” Syngenta said Friday in a statement on its website. “It will also explore alternate sources of funding.”

The announcement, which confirmed areport by Bloomberg News, is further evidence of the headwinds confronting Chinese equities, with the economy weighed ...