CK Hutchison (HKG:0001) has selected Goldman Sachs and UBS Group to advise on the planned initial public offering of its health and beauty retail arm A.S. Watson Group, Bloomberg News reported Friday, citing people familiar with the matter.
The conglomerate is working with the banks on a potential dual listing in Hong Kong and London, according to the report.
Bloomberg News has previously reported that the listing could take place this year and raise at least $2 billion.
The planning is still at an early stage, with the size and timing of the offering yet to be finalized, the report added.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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