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AS Watson, owner of retail chains such as Kruidvat, Superdrug, Rossmann, ICI Paris XL, and The Perfume Shop, plans to raise at least $2 billion this year through an initial public offering in London and Hong Kong.
Plans are taking shape
According to Bloomberg, Hong Kong-based group CK Hutchison has appointed investment banks Goldman Sachs and UBS to prepare a planned IPO for its retail subsidiary AS Watson, which operates more than 17,000 stores in over 30 countries.
The company has been harbouring plans to go public for some time, but now they are becoming very concrete: with a dual listing in Hong Kong and London, the group wants to raise at least $2 billion this year.
In 2024, AS Watson generated revenues of HK$190 billion (around €23 billion), half of which was achieved in Western Europe.
