AS Watson, the Hong Kong-based owner of Superdrug, is shrugging off market volatility and geopolitical turmoil to push ahead with plans for a $30bn dual stock market listing in the second half of this year.
The group, owned by billionaire Li Ka-shing’s CK Hutchison Holdings, is hoping to raise about $2bn through publicly listing its shares in both London and Hong Kong before the end of 2026, according to three people familiar with the situation.
AS Watson, which traces its history back to a 19th-century pharmacist’s hut in Hong Kong, is already working with advisers at Goldman Sachs, UBS and Latham & Watkins on the plans, which the people cautioned would be subject to market conditions.
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