Reports Suggest Li Ka-shing May Spin Off Watsons for Dual Listing in Hong Kong and the UK

(Hong Kong, 21st)
According to sources cited by The Wall Street Journal, Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings is planning to spin off its health and beauty retail chain Watsons and pursue a dual listing in both Hong Kong and the United Kingdom, aiming to raise up to USD 2 billion (approximately RM8.3 billion). Preparations for the listing are reportedly underway, with the launch expected in the first half of next year.

CK Hutchison previously delayed Watsons’ listing due to the pandemic and weaker investor demand for new shares. However, improving market sentiment and renewed capital-market activity have created a more favorable environment for the move.

Founded more than 180 years ago, Watsons operates over 17,000 physical and online retail outlets across 31 markets worldwide. Its portfolio includes Watsons, ParknShop supermarkets, electrical retailer Fortress, and Watson’s Wine. In Europe, the group also oversees major health and beauty retailers such as Kruidvat, Superdrug, Rossmann, Savers, Trekpleister, and Drogas.

Currently, CK Hutchison owns about 75% of Watsons, while Temasek of Singapore holds the remaining 25% stake following its investment in 2014.