CK Hutchison Is Said to Pick Goldman Sachs, UBS for HK-London IPO of Watson Group

CK Hutchison Holdings Ltd. has picked Goldman Sachs Group Inc. and UBS Group AG to work on the planned initial public offering of global health and beauty retailer A.S. Watson Group, people familiar with the matter said.

The conglomerate owned by billionaire Li Ka-shing is working with the banks on a dual share sale in Hong Kong and London, the people said, asking not to be identified because the information is private.