Superdrug owner explores London listing

Sir Li Ka-shing, Hong Kong’s richest man, is preparing a major boost for Britain’s stock market with plans to float the owner of Superdrug in London.

The 95-year-old billionaire has hired Goldman Sachs and UBS to advise on a potential initial public offering (IPO) of A.S. Watson Group, the health and beauty retail arm of his CK Hutchison conglomerate.

The move was first reported by Bloomberg, citing people familiar with the matter.

Under current plans, CK Hutchison is exploring a dual listing of A.S. Watson in both London and Hong Kong, reflecting the group’s strong presence in the UK alongside Sir Li’s broader business interests in Asia.

The timing and size of the IPO have yet to be finalised, and neither the company nor the banks involved have commented.

A float could take place as early as this year and may raise around $2 billion (£1.48 billion), according to the publication.

A.S. Watson has owned Superdrug for two decades. The chain is now Britain’s second-largest health and beauty retailer after Boots, generating a profit before tax of £136.8 million in 2024.

Alongside Superdrug, the group owns The Perfume Shop and Savers, amongst a number of other retail brands.

The deal would represent one of the most significant London listings in recent years, offering some good news for the UK stock exchange.