VENTURE CAPITAL POST

Just months after pulling out of a planned multi-billion dollar sale of his grocery chain, Hong Kong billionaire Li Ka-shing has started the process for Waston's initial public offering. The global retail business is set to float next year.

People familiar with the bidding of ParknShop told Bloomberg that the Charoen Pokphand Group and Woolsworths Ltd were considering of abandoning their bids for the supermarket chain.

China Resources, a state backed conglomerate, had been studying its options including a possible sale for its Hong Kong meat distribution unit, said a report from Bloomberg News.

Tesco Plc said that any deals that would take place in China would be funded through its new retail venture with China Resources Enterprise Ltd.

Sources said Thai billionaire Dhanin Chearavanont submitted its bid for Li Ka-shing's ParknShop chain.

China Resources submitted an offer to buy ParknShop, the Hong Kong supermarket chain.

ParknShop, the biggest supermarket chain in China received bids from companies such as Woolworths, KKR and other investors.

Sources told Reuters that Wal-Mart Stores Inc is thinking of bidding ParknShop, the supermarket business owned by Li Ka-shing.

KKR & Co announced that the company is currently considering a possible bid for Hong Kong's ParknShop.

Hong Kong's richest man Li Ka-shing is reportedly considering putting up for sale the ParknShop chain for US $2 billion.

Hutchison Whampoa Limited conducts strategic review for the ParknShop sale.