ParknShop chain, one of the two biggest supermarket chains in Hong Kong, is being shopped around by operator Hutchison Whampoa Ltd.

Hutchison, owned by Hong Kong's richest man Li Ka-shing, reportedly wants US $2 billion to sell the brand, according to the Wall Street Journal which quoted unidentified sources.

Hutchison reportedly hired Goldman Sachs Group Inc. and Bank of America Merrill Lynch to facilitate the deal. Presently, Hutchison is starting proceedings to review the books and operations of ParknShop.

Li, who earned the nickname "Superman" because of his seemingly invulnerable business acumen, has a net worth of US $27 billion. His fortune was sufficient enough to rank 17^th in the world.

However, a company statement said there's no timetable for the review and when it will be finished. The Wall Street Journal, nonetheless, reported that it is looking at the completion of the review by mid-August.

ParknShop and Wellcome, owned by Dairy Farm International Holdings Ltd., controlled 73% of the market share for supermarkets in Hong Kong.