Sanonda
| Company type | Public |
|---|---|
| Industry | Pesticides |
| Founded | 1958 |
| Headquarters | Jingzhou , China |
Area served | China |
| Products | Pesticides |
| Owner | ChemChina (30.75% as of 2016) |
Hubei Sanonda Co., Ltd. operates as a pesticide manufacturer based in Jingzhou, within Hubei Province, China. By the end of 2016, the state-owned entity ChemChina possessed a total ownership of 30.75% through its holdings in Sanonda Group (A share) and Adama Agricultural Solutions (B share). Additionally, the Government of Qichun County maintained a 0.70% interest. The A shares constituted 61.27% of the total share capital, whereas B shares made up 38.73%, with the latter being available for purchase by foreign investors on domestic markets.
In 2016, Sanonda revealed intentions to fully acquire Adama Agricultural Solutions from ChemChina by issuing new shares to both ChemChina and a private equity fund affiliated with China Cinda Asset Management. The B shares owned by ADAMA were planned to be retired as treasury stock. Following this transaction, ChemChina’s ownership stake was projected to surpass 70%. Since China Cinda is indirectly controlled by the State Council of the People's Republic of China, the overall Central Government’s shareholding remains unclear.
History
The origins of Hubei Sanonda Co., Ltd. trace back to its establishment in 1958. In 1992, it underwent reorganization into a company limited by shares under China's revised Company Law, reflecting broader market-oriented reforms. Sanonda's shares were first listed on the Shenzhen Stock Exchange in 1993, at which time Shashi Government held a majority stake of 52.35%. By 1996, Sanonda Group (currently known as Sanonda Holdings) was created as an intermediate holding entity representing Jingzhou Government’s interests, owning 44.66%, while Qichun County acquired a minor equity position in 1995.
In 2005, ChemChina emerged as the principal shareholder by purchasing the entire 20.57% stake held by Sanonda Group. Later in 2013, Adama Agricultural Solutions acquired about 10.6% of Sanonda’s B shares (which are tradable by foreign investors), during which time ChemChina, via China National Agrochemical Corporation, controlled a 60% interest in Adama.