## Asian magnate drives London market recovery with IPO of retail giant

Billionaire Sir Li Ka-shing has commissioned Goldman Sachs and UBS to structure a potential IPO for AS Watson, the parent company behind Superdrug, according to reports from international agencies. This initiative represents a strategic move to revitalize the London Stock Exchange, which has experienced a notable slowdown in new listings activity.

### A global business empire

Sir Li, whose personal wealth exceeds £43 billion, leads CK Hutchison, a conglomerate that controls critical assets in the UK and beyond. His business reach spans from essential service operators to transportation and infrastructure assets.

In the UK, his empire manages:
- **Water supply:** Northumbrian Water Group provides services to millions of residents
- **Energy networks:** UK Power Networks operates distribution for over eight million customers, with presence in Wales & West Utilities and Northern Gas Networks
- **Rail transportation:** Eversholt Rail controls the country's largest rolling stock fleet
- **Telecommunications:** Holds a 49% stake in the VodafoneThree merger

Recently, CK Hutchison divested its global port operations, including 43 terminals in 23 countries, selling assets to BlackRock in a significant transaction.

### Superdrug: from British startup to global retail powerhouse

Founded in 1964 by brothers Peter and Ronald Goldstein with a single branch in Putney, Superdrug evolved into the UK’s second most prominent health and beauty chain, surpassed only by Boots. Last year, Superdrug generated sales of £1.6 billion.

Its shareholding history reflects multiple corporate transformations: after being acquired by Kingfisher in 1987 for £57 million, it was later purchased by Kruidvat Group before becoming part of AS Watson’s portfolio. Currently, AS Watson manages over 17,000 stores across 30 territories, including brands like The Perfume Shop.

### Opportunity to revitalize the London financial market

The potential IPO of AS Watson comes at a crucial moment for the London Stock Exchange. The local market faces competitive pressures: only 22 companies listed in 2023, with just nine opting for the main exchange, raising a total of £2.2 billion. Meanwhile, British tech companies like Wise have announced plans to prioritize listings in the United States.

An offering by AS Watson, with expected proceeds close to @E5@1.48 trillion, would serve as a significant catalyst to restore confidence in the London market and demonstrate the ongoing ability to attract international-scale companies.

Sir Li, who stepped down from the presidency of CK Hutchison in 2018 at age 97 but remains as a senior advisor, continues to demonstrate his influence in global markets through strategic moves of this caliber.