Asian tycoon Li Ka-shing readies Hong Kong and London IPO

Owner of Superdrug is preparing for an IPO in Hong Kong and London, and is close to appointing a lead bank for the deal

Hong Kong billionaire Li Ka-shing is close to appointing HSBC as an underwriter on an initial public offering of his global retail business, A.S. Watson & Co, next year, which some analysts have valued at over $20 billion.

The move comes just months after Li aborted a multibillion-dollar sale of his Hong Kong grocery chain.

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