Hubei Sanonda Co., Ltd. is a Chinese pesticide producer, based in

Jingzhou Jingzhou () is a prefecture-level city in southern Hubei province, China, located on the banks of the Yangtze River. Its total residential population was 5,231,180 based on the 2020 census, 1,068,291 of whom resided in the built-up (''or metro' ...

, Hubei Province. As at 31 December 2016, state-owned enterprise

ChemChina China National Chemical Corporation, commonly known as ChemChina, is a Chinese state-owned chemical company in the product segments of agrochemicals, rubber products, chemical materials and specialty chemicals, industrial equipment, and petroch ...

via Sanonda Group ( A share) and

Adama Agricultural Solutions ADAMA Ltd. (Hebrew: אדמה בע"מ ; Chinese: 安道麦), formerly known as Makhteshim-Agan, is a crop protection company. Overview Together with its wholly owned subsidiary, Adama Agricultural Solutions Ltd., ADAMA manufacturers and retails ...

( B share) owned a combined 30.75% stake. It was followed by the Government of

Qichun County Qichun County () is a county of eastern Hubei province, People's Republic of China. It is under the administration of Huanggang City. Qichun is the birthplace of famous herbalist Li Shizhen, who was born and lived in Qizhou town, on the southern ...

(0.70%). A share accounted for 61.27% share capital, comparing to 38.73% for B share (domestically traded share for foreigner in mainland China). In 2016, a plan to acquire 100% stake of

from

was announced, by issuing new shares to ChemChina and a private equity fund () that related to China Cinda. The B share held by ADAMA (which would become

treasury stock A treasury stock or reacquired stock is stock which is bought back by the issuing company, reducing the amount of outstanding stock on the open market ("open market" including insiders' holdings). Stock repurchases are used as a tax efficie ...

) would be canceled. After the deal ChemChina would owned over 70% stake. As China Cinda was also owned by the

State Council State Council may refer to: Government * State Council of the Republic of Korea, the national cabinet of South Korea, headed by the President * State Council of the People's Republic of China, the national cabinet and chief administrative auth ...

indirectly (via the

Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Ec ...

). The total stake held by the Central Government of China was unknown.

History

The predecessor of Hubei Sanonda Co., Ltd. was found in 1958. In 1992 the company was re-incorporated as company limited by shares (), under the new Company Law of China as part of

marketization Marketisation or marketization is a restructuring process that enables state enterprises to operate as market-oriented firms by changing the legal environment in which they operate. This is achieved through reduction of state subsidies, organizati ...

(State Council allowed corporation to issue shares since 1986). in 1993 the shares of the company started to float on Shenzhen Stock Exchange. Shashi Government (

Shashi Shashi may refer to: Places and jurisdictions China * Shashi City (), Hubei from 1949 to 1994 *Shashi District (), Jingzhou, Hubei (historically, Shashi City) since 1994 ** Apostolic Prefecture of Shashi ** Jingmen–Shashi railway, single-trac ...

later merged to form Jingzhou) was the major shareholder for 52.35% stake. In 1996, Sanonda Group (, now known as Sanonda Holdings, ) was formed as an intermediate holding company for Jingzhou Government for 44.66% stake, with the Government of

acquired a minority stake from the Government of Jingzhou in 1995. In 2005

became the largest shareholder by acquiring 100% share of Sanonda Group, which owned 20.57% stake of Sanonda at that time.

acquired part of the B share (shares for foreigner which float in mainland China) of Sanonda in 2013 (about 10.6% of total share capital), at that time

(via wholly owned subsidiary China National Agrochemical Corporation) owned 60% Adama's stake.

References

External links

* {{authority control Chemical companies of China Agriculture companies of China Companies listed on the Shenzhen Stock Exchange Government agencies established in 1958 1958 establishments in China Chinese companies established in 1992 Chemical companies established in 1992 Companies based in Hubei ChemChina Companies owned by the provincial government of China Government-owned companies of China