HK Stock Market Move | CKH Holdings (00001) rose nearly 3%, reportedly choosing Goldman Sachs and UBS to advance the listing of Watsons IPO.

CKH HOLDINGS (00001) rose nearly 3%, as of the time of writing, up 2.72% to 56.6 Hong Kong dollars, with a trading volume of 3.96 billion Hong Kong dollars. On the news front, according to media reports citing sources, CKH HOLDINGS has chosen Goldman Sachs and UBS to advance the IPO of its Watsons Group. Sources said that Watsons Group is working with investment banks to study a dual listing in Hong Kong and London. Discussions are still ongoing, with details such as IPO size and timing being preliminary. According to earlier media reports, CKH HOLDINGS plans to list its Watsons Group in both Hong Kong and the UK, with expected fundraising of up to $2 billion. A previous research report by Morgan Stanley indicated that the potential dual listing news could help reevaluate CKH HOLDINGS valuation.