ChemChina 'mulling $10b share offering'

Sale of stock in a unit, combined with other moves, to fund Syngenta buy

China National Chemical Corp is planning to sell $10 billion worth of preference shares in one of its units, to help fund its record $43 billion acquisition of the world's biggest agrochemicals company Syngenta AG, according to sources who did not want to be identified.

Under the proposal, half of the preferred shares on sale would be convertible, according to sources. ChemChina also reportedly plans to raise another $15 billion in cash, bringing the total equity contribution to $25 billion, and borrow the rest it needs via a loan package.