Date
22 September 2017

Li Ka-shing retail flagship plans HK-London IPO, WSJ says

Li Ka-shing’s retail flagship A.S. Watson & Co. plans to list in both Hong Kong and London by the end of June in what could be one of the world’s biggest initial public offerings since late 2012, the Wall Street Journal reported Tuesday, citing people familiar with the situation. The company, which runs supermarkets, drugstores and electronic shops in Hong Kong and other parts of the world, could raise between US$5 billion and US$6 billion from the dual-city IPO, one of the sources was quoted as saying. It may submit its listing application to the Hong Kong stock exchange as early as this week, the source said. The company is also considering a secondary listing in Singapore, if the Hong Kong-London IPOs go well, the people said. If it raises US$6 billion, the IPO would be the biggest since Japan Airlines Ltd. raised US$8.5 billion in Tokyo in September 2012, the report said, citing data from Dealogic.

– Contact HKEJ at [email protected]

RA/CG

 

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