CK Hutchison plans to spin off its Watsons Group for an IPO in Hong Kong and the UK, aiming to raise a whopping $2 billion (approximately HK$15.6 billion). The preparations for the listing are already underway with the IPO expected to kick off as early as the first half of next year.
The conglomerate declined to comment on any market rumors or speculations when approached by local media. According to reports, Watsons had originally been preparing for an IPO in earlier years, but due to the pandemic and weakened demand from global investors for new stocks, the plan was postponed. With the recent improvement in market sentiment and the resurgence of the IPO market, it is seen as an opportune time to revive the listing plan.
Founded in 1841, Watsons Group is one of the oldest companies in Hong Kong, evolving from a small pharmacy on Hong Kong Island into the world’s largest international health and beauty retailer. The group operates more than 17,000 online and physical stores in 31 markets, employing over 130,000 people. Its portfolio includes well-known brands such as Watsons, PARKnSHOP, Fortress, and Watsons Wine.
In addition, Watsons also owns multiple leading retail brands in Europe, such as Kruidvat, Superdrug, Rossmann, Savers, Trekpleister, and Drogas. The company operates premium perfume and cosmetics retailers, including ICI Paris XL and The Perfume Shop, establishing a wide-reaching global retail footprint.
With its diverse range of retail brands and extensive presence in various markets, the spin-off of Watsons Group is poised to attract significant investor interest and potentially reshape the landscape of the retail industry.