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HCM Hutchmed (china) Limited

267.50
3.00 (1.13%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hutchmed (china) Limited LSE:HCM London Ordinary Share KYG4672N1198 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.00 1.13% 267.50 265.00 267.00 273.00 265.50 266.50 18,840 16:35:28
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Pharmaceutical Preparations 838M 100.78M - N/A 0
Hutchmed (china) Limited is listed in the Pharmaceutical Preparations sector of the London Stock Exchange with ticker HCM. The last closing price for Hutchmed (china) was 264.50p. Over the last year, Hutchmed (china) shares have traded in a share price range of 173.60p to 338.00p.

Hutchmed (china) currently has 871,256,270 shares in issue.

Hutchmed (china) Share Discussion Threads

Showing 1201 to 1224 of 4100 messages
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DateSubjectAuthorDiscuss
26/10/2017
06:30
Directors made lots of purchases recently

$262m is surely much more than we need for currenet pipeline development.

Some kind of deal is on the cards In my view, maybe similar to the one Beigene just did with Celgene? Or maybe we are going to buy back global rights to Fruquintinib????

Something is brewing

nerdofsteel
25/10/2017
20:22
Closed at around £44. Very positive. I wonder if we will get results in the morning?
mad foetus
25/10/2017
20:11
USA price up 5% at present.
bellymonster
25/10/2017
19:01
USA price ahead at the moment
nfs
25/10/2017
17:15
Yes.

Someone knows a lot more than we do...

dbadvn
25/10/2017
14:49
Price now higher.On a day when a placing is announced that's very bullish,the book building must going exceptionally well and the discount must be negligible .
steeplejack
25/10/2017
14:20
DBADVN - grrrr don't remind me about the discounts to US institutions!!!!
nerdofsteel
25/10/2017
14:19
to be fair Christain Hogg said a year ago when interviewed by Panmure Gordon that they may go to the market if the time is right.

We should also be aware that HHHL is taking up most of these new shares

This is not the usual small AIM Company dilution

These guys deploy cash effectively and Pharma is massively expensive. They may use some of the cash to buy back rights to Fruquintinib or Savolitinib (like they did with Astra a year ago) so that would be a great way of adding future value as these drugs come to market.

This Management Team have delivered 2200% shareholder value in 10 years.

nerdofsteel
25/10/2017
08:06
I'm surprised that the shares are down over 6%.The funding is as good as done and they'll only be some 38% of new free equity to be issued.The additional equity that could be issued,another $40m worth depending on demand ,will almost certainly be snapped up.Under a book building process like this,I would not expect a placing discount of more than 3% but,with the benefit of hindsight,the company has always been rather generous with the discounts it affords US institutions as many here will remember!Its more than keen to build a good institutional share base in the US.
steeplejack
25/10/2017
08:04
indeed - doing it today!

Also, from the prospectus..

"HHHL, our majority shareholder, has indicated an interest in purchasing up to $182.0 million in ADSs in the aggregate in this offering on the same terms as other investors"

HHL being Hutchison Health Holdings Ltd

A clear and demonstrable show of confidence by our largest Shareholder...... :o-)

nerdofsteel
25/10/2017
07:54
Well there's your top-up opportunity Nerd!
melf
25/10/2017
06:59
Cisk, ditto, I also hold UK shares and ADRs.....

This offering will be taken up by Institutions....it may be possible to obtain some via a Broker but this is firmly aimed at institutional investors. Also interesting that on NASDAQ Biotechs at a similar stage in their development are often 80%+ insti owned as retail investors won't invest for the long term and don't understand Biopharma

Why raise cash now? Late stage pipeline development is extremely expensive. I also think some of the proceeds could be used to buy back a share of an asset, like they did with AZ and Savolitinib....

For example, could we be buying 100% China rights to Fruquintinib or Savolitinib leaving Lilly and AZ with ex China rights?

Just a thought because this is a large amount of cash being raised, so I suspect it's not just for general purposes!!!!

on another note, I'm also reassured because the Directors have large stakes and continue to buy, even at these prices, so they are very confident ;o-)

nerdofsteel
25/10/2017
06:47
And this probably explains recent price weakness?
cisk
25/10/2017
06:46
NOS, I hold both U.K. Shares and building up US holdings, and like you have been in this company since the early days (wish I had my original holding!)

Will we be able to participate in the US offering? Also why do you think they are raising this cash, given they are cash generative and have you heard if they have received all the proceeds from the site sale?

Why would a large pharma be willing to be bought out if any of the drugs in pIII are potential blockbusters?

Just questions I am asking myself and wondered if you have a view...

Cisk

cisk
25/10/2017
06:41
If the Company use some of the proceeds to increase the interest in certain assets, like they did with AZ and Savolitinib last year, that would be a great deployment of capital

Luckily the U.S. Specialist institutional Investors won't be spooked by this offering and will get why it's needed

The potential return on capital is immense IMO

nerdofsteel
25/10/2017
06:27
Hutchison Healthcare Holdings Limited ("HHHL"), Chi-Med's majority shareholder holding approximately 60.36% of Chi-Med's share capital, has given a non-binding indication of interest to purchase up to US$182.0 million in ADSs in the aggregate in the Offering on the same terms as other investors. In addition,they may issue additional equity depending on demand taking the total issue to around $300m.Explains recent weakening of share price.
steeplejack
25/10/2017
06:10
$260m ADS offering announced today - very interesting development!
nerdofsteel
23/10/2017
12:13
great, thanks for that haydock, and yes, we have a lot of land compensation coming our way within the next 6 months or so
nerdofsteel
22/10/2017
20:48
Telegraph Money on Sat.
Item on the Slater fund, with a special note of his largest holding.
Still listed at over 10%.
Highlights the increasing value of the land holdings & sales, not the drugs.

haydock
21/10/2017
09:31
Here is an interesting article published by Bloomberg on Thursday with the leading strapline

"(Bloomberg) -- As money rushes into China£s fledgling biotechnology sector,£Eli Lilly & Co. and other foreign drugmakers are scaling back."

Could that be an opportunity I wonder in the context of the deal Beigene has done with Celgene?

hxxps://www.bloombergquint.com/china/2017/10/19/china-s-biotech-promise-is-struggling-to-keep-foreign-innovators

I continue to buy

nerdofsteel
20/10/2017
12:39
indeed Melf! Whenever he has written about Chi-Med in the past, and he's written lead articles on the Company many times, he has predicted future valuations and the Company has always exceeded them, so I agree, def on the conservative side!

The other thing I'd say on this subject is that unlike London, American Investors actually get Biopharma, understamd it, and attribute proper valuations....examples include, Exelixis, Tesaro, Juno, Incyte and my favourite (not American) Genmab.

I like to use sector and geographic average P/E, P/S and EV/EBITDA metrics which I blend together to come up with a valuation:-

P/E = 79
P/S = 22
EV/EBITDA = 70

Analyst 2025 Revenue forecast = $1006,000,000 (assumes pipeline success)

Blended mcap = $21.4bn = £268 per share

Personally I think the revenue number will be much higher than $1bn because the commercial arm alone is growing at an astonishing rate....so my prediction is conservative

nerdofsteel
20/10/2017
11:08
Nerdofsteel, the inference in Anthony Hilton's article suggests that a $20bn mcap in five years could be on the conservative side :-)
melf
20/10/2017
07:44
agreed mad, I think you summarise it very well

Thankyou also to JAF and Melf for alerting this Board to those two important articles. As I have said, this will be a $20bn mcap Company in the next 5 years IMO

I continue to buy

nerdofsteel
20/10/2017
06:46
"Opening up new treatment paradigms" is how the Edison report sums up this week's news. It looks like it could be a real game changer imo.
mad foetus
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