Hutchison scraps plan to sell ParknShop

The conglomerate controlled by Hong Kong's richest man Li Ka-shing is instead considering a public offering of the AS Watson retail business, after a mismatch in valuations.

Hutchison was seeking $3 billion-$4 billion for the supermarket chain, which was deemed to be steep for a mature market such as Hong Kong.

Denise Wee

October 19, 2013

Hutchison Whampoa, controlled by Hong Kong’s richest man Li Ka-shing, has scrapped the sale of ParknShop, Hong Kong's largest supermarket chain by market share.

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