Hutchmed (china) Share Discussion Threads

[nerdofsteel] 30/10/2017 10:24

When I last asked the question at the AGM about possible de-listing in London the Board stated there are no immediate planes. I will ask again at the FY17 AGM in April next year!

Personally I think that the NASDAQ IPO has been a great success because the American market, particularly the specialist investors get Biotech and get HCM!

[reptile3] 30/10/2017 09:50

Not sure if these two links answer all the issues but it's a starting point:

hxxps://the-international-investor.com/comparison-tables/uk-international-stockbrokers

and,

hxxps://the-international-investor.com/investment-faq/holding-foreign-stocks-isa-sipp

[steeplejack] 30/10/2017 06:59

Like others,I've been caught by delisting from the AIM market and ever since the inaugural NASDAQ listing here,have considered that HCM might well delist at some juncture,The AIM market is not well regarded in the USA,actually it's not well regarded in the UK.Whilst you'd be offered NASDAQ to replace delisted AIM,it's far from seamless.Some brokers,like Barclays are simply not set up to handle such an eventuality.So,in effect you'd have to sell UK stock and buy,in my case through a US broker,NASDAQ stock.Not the end of the world if you're running a profit but irritating if you're running a loss as has been my experience in the past.It could be that HCM seeks to upgrade to a full listing in the UK in due course but I think it unlikely.I don't quite see why a NASDAQ holding of HCM wouldn't be eligible for holding in an ISA.Sometimes these brokers just bluff it out to disguise the fact that they're not really set up to handle overseas equities efficiently.

[goldeast] 29/10/2017 12:33

I have Nasdaq shares in my ISA, but when I tried to add HCM ADR's, TD refused saying they weren't eligible.

[nerdofsteel] 29/10/2017 12:03

De-List from AIM? You'd be credited NASDAQ stock as a replacement if your account allows it, as an option. There would be mechanisms put in place.

not sure about NASDAQ shares in an ISA but I have a large HCM ADR holding in my UK SIPP as well as my U.S. 401K

[bellymonster] 29/10/2017 09:16

I think in both my cases I could have had shares transferred to Nasdaq but my holding account wouldn't allow me to hold US shares so I needed to sell.

[reptile3] 29/10/2017 08:41

Hamsterdam, also, would we have to sell all shares on AIM and repurchase on NASDAQ with subsequent loss through commission costs and spread? Or, could there be a simple transfer?

[bellymonster] 29/10/2017 08:33

I've been caught out a couple of times where a dual listed share announced it was to delist from London.In both cases the share dropped considerably on the day of the announcement (panic selling I guess) but recovered over the coming days. It's never a nice situation as invariably you are forced to sell something you want to keep.

[hamsterdam] 28/10/2017 16:48

Stupid question but what would happen if they did delist from AIM? Huge Drop in share price? Loss of investment?

Is it possible to buy the Nasdaq shares in an ISA

[nerdofsteel] 28/10/2017 16:16

Yanks, clearly I cannot spell Americans despite living there for a few years lol

We have to thank the American market however, for valuing this Company correctly and recognising the massive potential of the late stage pipeline, unlike the London market, which is only interested in the net set of figures

De-list from AIM and maintain a NASDAQ only listing IMO

In the meantime I continue to buy London and NASDAQ listed shares/ADR's

[montynj] 28/10/2017 00:05

Thanks nerd

[nerdofsteel] 27/10/2017 20:16

Extra allotment taken, the Aericans know a bargain when they see one

[nerdofsteel] 27/10/2017 18:25

monty, I know the question was directed at scanjet, but I've been invested with a large position here for 10 years and will be invested for another 10, and continue to buy

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

Look at Genmab, Exelixis and Incyte to see where we are heading

[montynj] 27/10/2017 12:23

scanjet as u are a long term investor where do you this share ultimately going to ?

[scanjet17] 27/10/2017 11:54

Well, I noticed at around £4, bought a large quantity and have held ever since. As with Warren Buffet I like to buy companies I have no expectation of having to sell. This is one of them.
A share split is needed here. 20:1 would make the price far more appealing to the average Joe. Psychology is 70% of investment.

[mad foetus] 27/10/2017 11:45

Amazing that nobody notices this company - incredible share price record, incredible prospects, massive positive response to fund raising, share price sharply up and nobody notices. LOL!

[mad foetus] 27/10/2017 08:49

The difference in volumes is striking. Yesterday was an exception but 880k ADRs traded vs 2,000 shares here so far today. The US are driving the price, which makes us an almost unique proposition on the UK market.

[nerdofsteel] 27/10/2017 08:37

U.S institutions have loaded up as they know the massive growth that will occur over the coming decade.....another Incyte or Medivation in the making

[mad foetus] 27/10/2017 08:13

Nice start. Funny old week!

[nerdofsteel] 27/10/2017 07:23

Our CEO said at the time of the FY16 results that the Company was working on 2 or 3 things, any one of which will make a radical change to our guidance numbers.

Whilst we do need cash to push the pipeline forward I think $262m is more than we need for that alone, especially as Fruquintinib will launch in China shortly. I can only conclude something big will occur...possibly a deal like the Celgene/Beigene one

[dbadvn] 26/10/2017 23:31

Cannot understand why they keep pricing the USD offerings at such a large discount!
I can see no need to do this .

[melf] 26/10/2017 21:30

Yep...you definitely get the impression something's brewing here.

[mad foetus] 26/10/2017 21:14

Closed around £47 on absolutely huge volume. So, we have a war chest of cash and no shortage of buyers. Let's see what tomorrow brings

[montynj] 26/10/2017 20:52

More like 46 now