THE WHAT? AS Watson, the owner of Superdrug, is reportedly considering delaying its planned dual listing in London and Hong Kong until 2027 due to regulatory complexities in Asia.
THE DETAILS The health and beauty retailer had been targeting an autumn 2026 IPO that was expected to raise around £1.5 billion and value the business at approximately £22.5 billion (US$30 billion). However, regulatory issues in Asia could push the flotation into next year. AS Watson operates more than 17,000 stores across 31 markets under brands including Superdrug, Savers, Watsons and Rossmann. The proposed listing is also expected to provide Singapore’s Temasek with an opportunity to reduce its near-25% stake in the business, while the company continues to explore a potential sale of French perfume and cosmetics retailer Marionnaud.
THE WHY? A delay would postpone one of the largest anticipated retail IPOs in Europe and reflects the increasingly complex regulatory environment facing multinational retailers, while extending uncertainty around the future ownership and capital strategy of one of the world’s largest health and beauty retail groups.
Source: Financial Times
