Hong Kong-based holding company CK Hutchison Holdings plans to conduct a double IPO of A.S. Watson Group's retail business on the Hong Kong and London stock exchanges in the second quarter of 2026. This is reported in the Hutchison press release.
Hutchison attracted Goldman Sachs and UBS as organizers of the subsidiary's IPO in order to raise $2 billion and increase the market value of A.S. Watson to $30 billion.
75% of shares of A.S. Watson belong to CK Hutchison Holdings, and the remaining 25% belong to the Singapore investment group Temasek Holdings, which plans to completely exit the equity capital of A. S. Watson as part of the share offering.
The deal is in line with the overall restructuring of CK Hutchison's assets, which also includes the sale of the port business for $22.8 billion and the IPO of telecommunications units.
CK Hutchison Holdings Limited is a holding company in the fields of telecommunications, infrastructure, energy, port facilities and retail. Subsidiaries include Hutchison 3G, Hutchison Asia Telecom Group, Cheung Kong Infrastructure Holdings, Hutchison Ports, and Husky Energy. The headquarters is located in Hong Kong.
A.S. Watson Group is a retail company selling products in the field of healthcare and household, as well as food, beverages and electronics. The company operates 17,000 stores in 31 countries under the Watsons and Superdrug brands. It is headquartered in Hong Kong with offices in London (England), Renswood (Netherlands) and Zurich (Switzerland). The company employs 140,000 people. Revenue for the first half of 2025 reached $12.7 billion.
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