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AS Watson plans dual listing

Hong Kong billionaire Li Ka-shing plans to list his retail company AS Watson in Hong Kong and London by June.

AS Watson operates the beauty and health store chain Watsons in Asia, Superdrug and Kruidvat in Europe, supermarkets in Hong Kong and electronics stores.

The IPOs are aimed at raising between $5 billion and $6 billion.

Li Ka-shing plans a secondary listing in Singapore should the Hong Kong and London IPOs materialise.

AS Watson’s IPO would be the biggest since Japan Airlines’ $8.5 billion Tokyo IPO in September 2012.

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