New stock news | It is rumored that CKH HOLDINGS (00001) plans to spin off Watsons in Hong Kong and London with a dual listing, targeting a valuation of $30 billion.

According to media reports quoting informed sources, CKH HOLDINGS (00001) is seeking to spin off the Watsons Group for a dual listing in Hong Kong and London, with a target valuation of approximately 30 billion US dollars (about 234 billion Hong Kong dollars). The sources stated that CKH HOLDINGS has begun evaluating investor interest in the initial public offering (IPO) of the Watsons Group, aiming to complete the dual listing by mid-year, but the specific timetable has not been finalized. It was reported last week that CKH HOLDINGS has selected Goldman Sachs and UBS to handle the IPO of the Watsons Group. Market rumors in November last year suggested that CKH HOLDINGS had initiated plans to spin off the Watsons Group for listing, with speculation of a dual listing in Hong Kong and the United Kingdom, raising up to 2 billion US dollars (approximately 15.6 billion Hong Kong dollars). If successful, this IPO could potentially be one of the largest consumer retail IPOs in recent years on the Hong Kong stock market. Sources revealed that Temasek, which holds a 25% stake in the Watsons Group, is seeking to exit its investment during the IPO phase. CKH HOLDINGS sold a 25% stake in the Watsons Group to the Singaporean sovereign wealth fund, Temasek, for 5.7 billion US dollars in 2014, with plans to list the retail sector at an appropriate time, but this has been postponed multiple times due to the pandemic, weak new stock market conditions, and other reasons. Currently, CKH HOLDINGS holds approximately 75% stake in the Watsons Group.