Billion-Dollar Exit: A.S. Watson's IPO Ambitions

CK Hutchison Holdings aims to value A.S. Watson Group at $30 billion with a potential dual stock market listing in Hong Kong and London by mid-year. Temasek plans to exit its 25% stake through the anticipated IPO, which could raise $2 billion. Goldman Sachs and UBS are managing the listing.

CK Hutchison Holdings is positioning for a $30 billion valuation of its retail unit, A.S. Watson Group, through dual listings in Hong Kong and London, sources reveal. The conglomerate is exploring investor interest for the IPO, with expectations to finalize by mid-year.

Goldman Sachs and UBS are reportedly steering the IPO, which could potentially raise $2 billion. Temasek, holding 25% of A.S. Watson, seeks to divest its shares through the offering.

Founded by Li Ka-shing, CK Hutchison plans the IPO as part of a broader strategic vision to enhance unit values through listings. A.S. Watson, the world's largest health and beauty retailer, boasts over 17,000 stores globally.

(With inputs from agencies.)