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Superdrug’s parent company is eyeing a $30bn dual stock exchange listing by the end of 2026, it has been reported.

The Financial Times has reported that AS Watson, owner of UK businesses Superdrug and The Perfume Shop as well as numerous global brands, is planning to go public on the London Stock Exchange and in Hong Kong, home of its headquarters, later this year.

AS Watson is working with advisers from Goldman Sachs and UBS and hopes to raise in the region of $2bn through publicly listing its shares, the FT reported. It has not yet been confirmed whether the primary listing will be in London or Hong Kong.

Superdrug achieved an operating profit of £144m in the 2024 calendar year, an 18 per cent hike on 2023. Revenue grew from £1.5bn to £1.6bn in the same period.

“2024 was another tough year for the retail sector and although inflation reduced throughout the year the legacy impact of higher prices, and sustained higher interest rates, contributed to squeezing consumers’ disposable income,” said Superdrug in its most recent financial report.

The reports come amid speculation that Boots owner Sycamore Partners is exploring options for a sale or stock market listing in 2027 after it spun off the UK’s largest pharmacy multiple into a standalone entity in 2025.

Related: Superdrug pharmacists get 3% pay rise in first union agreement