Jan 9 (Reuters) - Hong Kong-based CK Hutchison ( CKHUF ) has picked Goldman Sachs ( GS ) and UBS Group AG to work on the planned initial ‌public offering of its unit A.S. Watson Group, ​Bloomberg News reported on Friday, citing ‍people familiar with the matter.

The ⁠ports-to-telecoms conglomerate ⁠is working with the banks on a dual ‌share sale for ​health and beauty retailer A.S. Watson in Hong Kong and ⁠London, the report ‍said.

Hong ​Kong notched its strongest IPO year since 2021 in 2025, with 114 ‍new listings raising $36.5 billion, according to data compiled by LSEG.

A.S. Watson operates health and beauty retail chains including Watsons and Superdrug across Asia ​and ‍Europe. It has more than 17,000 retail stores in 31 markets, ​according to its website.

Bloomberg News has previously reported that the A.S. Watson listing could take place this year and raise $2 billion or more.

Discussions are ongoing and ​details on timing and deal size remain preliminary, the report said on Friday.