Published by Global Banking & Finance Review®
Posted on January 9, 2026
2 min readLast updated: January 20, 2026
Add as preferred source on GoogleCK Hutchison has chosen Goldman Sachs and UBS for the A.S. Watson IPO, planning a dual listing in Hong Kong and London. The IPO could raise $2 billion or more.
Jan 9 (Reuters) - Hong Kong-based CK Hutchison has picked Goldman Sachs and UBS Group AG to work on the planned initial public offering of its unit A.S. Watson Group, Bloomberg News reported on Friday, citing people familiar with the matter.
The ports-to-telecoms conglomerate is working with the banks on a dual share sale for health and beauty retailer A.S. Watson in Hong Kong and London, the report said.
Hong Kong notched its strongest IPO year since 2021 in 2025, with 114 new listings raising $36.5 billion, according to data compiled by LSEG.
A.S. Watson operates health and beauty retail chains including Watsons and Superdrug across Asia and Europe. It has more than 17,000 retail stores in 31 markets, according to its website.
Bloomberg News has previously reported that the A.S. Watson listing could take place this year and raise $2 billion or more.
Discussions are ongoing and details on timing and deal size remain preliminary, the report said on Friday.
(Reporting by Himanshi Akhand in Bengaluru; Editing by Sherry Jacob-Phillips)
An Initial Public Offering (IPO) is the process through which a private company offers shares to the public for the first time, allowing it to raise capital from public investors.
Equity represents ownership in a company, typically in the form of shares. It signifies the value of an owner's stake in the business after all liabilities are deducted.
Investment banking is a sector of banking that helps companies raise capital through underwriting and issuing securities, as well as providing advisory services for mergers and acquisitions.
Financial markets are platforms where buyers and sellers engage in the trading of assets such as stocks, bonds, currencies, and derivatives, facilitating the flow of capital and investment.
Retail trade involves the sale of goods and services directly to consumers. It encompasses various forms of businesses, including stores, online shops, and service providers.
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