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The owner of UK retailer Superdrug is considering delaying its planned London stock market listing until next year, the Financial Times reported on Saturday. Hong Kong-based AS Watson is part of the conglomerate CK Hutchison Holdings Ltd, and had been aiming for a dual listing in London and Hong Kong this autumn. The FT reported that there were plans to raise around $2 billion in a flotation that would value the business at around $30 billion. A potential delay of the IPO would be another setback for the UK market amid a shortage of new arrivals. The FT reported that AS Watson faces possible regulatory and other complications in Asia that means the listing could fall into next year. In the UK, the brand is best known for Superdrug, but it has 17,000 stores across 12 retail brands in 31 markets, including Rossmann in Germany. The possible IPO is also a route for Singapore’s state-owned investment manager Temasek to divest the 25% stake it bought for close to $6 billion in 2014. As well as the IPO, AS Watson is pursuing the sale of at least one asset. It is looking at a sale of French perfumer Marionnaud, according to a filing. The FT said people familiar with Hong Kong’s listing rules warned this could represent a ‘material change’ that would mean it needs to refile its listing materials. CK Hutchinson declined to comment. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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