Superdrug owner AS Watson reportedly considered delaying its £1.5 billion London flotation until 2027, amid potential regulatory complications in Asia.

The Hong Kong-based health and beauty group had been preparing a dual listing in London and Hong Kong this autumn.

However, regulatory and other complications in Asia meant the initial public offering could be pushed into next year.

The flotation had been expected to raise around £1.5 billion and value AS Watson at approximately £22.5 billion.

Its potential delay dealt another blow to the London Stock Exchange as it battles a prolonged shortage of new listings and a rise in foreign takeovers of UK-listed companies.

Only seven businesses have floated in London during 2026 and raised a combined £2.2 billion.

AS Watson formed part of Hong Kong conglomerate CK Hutchison and operated more than 17,000 stores across 12 retail brands in 31 markets.

Its portfolio included Superdrug and Savers in the UK alongside Watsons, Rossmann and other health and beauty chains across Europe and Asia.

The proposed flotation was expected to offer Singapore’s state investment company Temasek a route to sell its stake of almost 25 per cent in the retailer.

AS Watson was also exploring a potential sale of French perfume and cosmetics chain Marionnaud.

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