Jul. 19, 2021
Make Virtual Participation to follow up the supply dynamics and make right procurement strategy!
An agreement was signed between the Syngenta Group Co., Ltd, Sinochem International and Jiangsu Yangnong Group Co., Ltd, on November 6, 2020, wherein the 36.17% of the shares held by the Yangnong Group were assigned to Syngenta Group through non-disclosure means while Syngenta Group’s shares of 39.88% in the Yangnong Group have been assigned to Sinochem International.
Yangnong Chemical announced on July 14, 2021, that a day earlier the company had received a notification from Syngenta Group saying that the Yangnong Group and the Syngenta Group had completed assigning the shares through a transaction. After the transfer is completed, Syngenta Group will hold 112,084,812 shares accounting for 36.17% of the total issued shares of the company.
Yangnong Group no longer has direct control of Yangnong Chemical, and the controlling shareholder of the company is now the Syngenta Group, while the actual controller of the company is the State-Owned Assets Supervision and Administration Commission of the State Council. In the meantime, Sinochem International will hold 79.88% shares of the Yangnong Group.