Syngenta Group’s planned $5 billion Hong Kong initial public offering is facing delays as the seed and pesticide company waits for better conditions in the agriculture sector, according to people familiar with the matter.

The Syngenta IPO postponement reflects ongoing volatility in global capital markets and sector-specific headwinds affecting agricultural inputs. Investors have grown cautious amid fluctuating commodity prices and geopolitical uncertainty impacting farm economics.

Hong Kong listing plans remain on the table, but timing depends on improved sentiment toward agribusiness stocks. The company previously targeted a 2024 debut after its Chinese owner, ChemChina, explored options to unlock value.