Li's Watson to raise up to US$6b in IPO: report

[HONG KONG] Asia's richest man Li Ka-shing is planning to raise up to US$6 billion through a dual listing of his flagship retail chain in Hong Kong and London, a report said yesterday, in what would be the world's biggest initial public offering since late 2012.

Mr Li is aiming to sell shares in AS Watson - part of his vast Hutchison Whampoa conglomerate - by the end of June, the Wall Street Journal reported, quoting a person familiar with the situation.

Mr Li, 85, said in February that Watson will be listed in two places with one of them definitely being the Chinese financial hub. "No matter what, Watson will definitely list in two locations, with Hong Kong being one of them," the Journal reported Mr Li as saying at the time.