Hutchmed (china) Share Discussion Threads

[steeplejack] 30/9/2019 17:45

Looks to me like they have got it away at $17-65.We can rest easy.That’s 286 equivalent.

[waldron] 30/9/2019 16:00

30/09/2019 3:08pm
Dow Jones News

Hutchison China Meditech (LSE:HCM)
Intraday Stock Chart

Today : Monday 30 September 2019
Click Here for more Hutchison China Meditech Charts.

(Adds pricing of the offer, updates share price)



By Adria Calatayud



London-listed shares in Hutchison China MediTech Ltd. (HCM.LN) fell Monday after the company said shareholder CK Hutchison Holdings Ltd. (0001.HK) plans to sell a 1.3% stake.

This would reduce CK Hutchison's stake in the company to 49.9% from 51.1%, allowing it to deconsolidate the investment from its financial statements, Hutchison China MediTech said.

The offering price was set at $17.65 for each American depositary share, Hutchison China MediTech said. Each ADS represents five ordinary shares, the company said.

The China-focused pharmaceutical company, which is listed in the U.K. and the U.S., said the Hong Kong-based conglomerate has no intention of selling additional shares in Hutchison China MediTech for the foreseeable future upon completion of the current offering.

Hutchison China MediTech's London-listed shares at 1320 GMT were down 5% at 285 pence.



Write to Adria Calatayud at [e-mail]



(END) Dow Jones Newswires

September 30, 2019 09:53 ET (13:53 GMT)

[steeplejack] 30/9/2019 15:48

You’d expect the guys who took a slug of the issue at $24 to buy some of the latest offering,if only to indicate they remain confident and weren’t complete idiots for taking stock in the first instance!This price suggests that the placing isn’t flying off the shelf.We’ll know quick enough.Goldmans are pretty useful in these situations.

PS....This isn’t underwritten like the sizeable tranche at $24.The brokers are book building.Thus,the price of $17-65 might not be fixed,it might be an indicative price.If they can’t get it away at that price,they’ll drop the price until it’s all gone and the lowest bid will prevail for all.The weakness in the US price indicates that the final placing price might be lower than indicated.Hutchinson really have treated their subsidiary with utter disrespect.

[dbadvn] 30/9/2019 15:26

As Buffet said , you should invest in a great product , because sooner or later management will screw up (paraphrase) .

Bought more despite my resolve to stick with what I have.

[mad foetus] 30/9/2019 15:10

Very narrow spread though, not sure whether it is a great chance to get out or get in though!

[shaker44] 30/9/2019 15:07

The price of mismanagement. Let's hope this new sale goes smoothly

[nerdofsteel] 30/9/2019 14:10

CKH have destroyed the value of their own holding, the last Secondary was at $24

[nerdofsteel] 30/9/2019 14:07

The offering price was US$17.65 per American depositary share ("ADS").

[nerdofsteel] 30/9/2019 14:06

Recent Institutional Investors will be miffed at this. That said, once this is all done at least the market will know there is no chance of a re-occurrence. Also, we knew it was coming so one could argue that it has held the market back, once completed there is nothing left to hold it back any more, assuming the Pipeline rapidly progresses. 2020 should be a great year, in theory.

[nerdofsteel] 30/9/2019 13:54

I picked up a load more @ 260p, a gift in my view

[steeplejack] 30/9/2019 13:40

Seems an overreaction to me.Weighing up all the news flow(especially statement that US won’t delist Chinese companies)I thought the stock would recover strongly today!The news about a further sale to reduce below 50% is just a reaffirmation.Anyway,obliged to add here.

If Merrill,JP Morgan and Goldmans can’t get this smallish offering away at a good price,we’re well and truly stuffed.Mind you,with all this chatter about Chinese owned companies being delisted,I can’t help thinking the timing could be better.That said,better sooner rather than later perhaps.

[sarkasm] 30/9/2019 13:35

London-listed shares in Hutchison China MediTech Ltd. (HCM.LN) fell Monday after the company said shareholder CK Hutchison Holdings Ltd. (0001.HK) plans to sell a 1.3% stake.

This would reduce CK Hutchison's stake in the company to 49.9% from 51.1%, Hutchison China MediTech said.

The China-focused pharmaceutical company, which is listed in the U.K. and the U.S., said the Hong Kong-based conglomerate has no intention of selling additional shares in Hutchison China MediTech for the foreseeable future upon completion of the current offering.

Hutchison China MediTech's London-listed shares at 1132 GMT were down 12% at 264 pence.



Write to Adria Calatayud at [e-mail]



(END) Dow Jones Newswires

September 30, 2019 07:52 ET (11:52 GMT)

[its the oxman] 30/9/2019 13:29

Many thx, some reassuring news hopefully.

[nerdofsteel] 30/9/2019 13:28

Significantly improved PFS over Sunitinib - bodes well

[nerdofsteel] 30/9/2019 13:25

On the call, will report back! Looking good on the global dev side for Surufatinib too - the Company is very bullish

[its the oxman] 30/9/2019 13:15

Any view on the phase 3 data today. Better / worse than expected?

[nerdofsteel] 30/9/2019 13:14

Agreed re the HK listing, that is what I think we now need

Surufatinib Investor conf call currently underway

[nerdofsteel] 30/9/2019 13:13

It's a gift, I have bought more as I have been for many years

[dbadvn] 30/9/2019 13:07

I'm just guessing but taking into account CKH overall position they are looking at the long view whereby their remaining holding will provide large gains through the commercialisation phase that HCM is now entering. That would of course mean an HK listing cannot be far away.

[its the oxman] 30/9/2019 12:45

At least it's not drug failure sending this down , but where is the bottom

[nerdofsteel] 30/9/2019 12:25

CKHH announcement just out a few mins ago to add the mess

Another Secondary Offering on top of Trumps diatribe about de-listing China ADR's, the bad news keeps on coming, all outside the control of this brilliant Company, unfortunately

I bought another tyranches early this morning but wish I had waited until this news hit the market

CK Hutchison offers 1.3% of Chi-Med’s share capital aiming to deconsolidate and hold Chi-Med as a strategic investment for the long term
London: Monday, September 30, 2019: Hutchison China MediTech Limited (“Chi-Med̶1;) (AIM/Nasdaq: HCM) announces that its shareholder CK Hutchison Holdings Limited (“CK Hutchison”) (SEHK: 1)[1] is launching an offering to sell approximately 1.3% of the total outstanding share capital in Chi-Med’s through an underwritten public offering, which would reduce its stake in Chi-Med from 51.1% to 49.9% (the “Offering̶1;).

CK Hutchison has announced that, upon completion of the Offering, it has no intention of selling additional Chi-Med shares for the foreseeable future.
Canning Fok, Group Co-Managing Director of CK Hutchison, commented: “Upon completion of the Offering, we will have achieved our previously announced objective of reducing our shareholding in Chi-Med to below 50%, and this will enable CK Hutchison to deconsolidate Chi-Med in the financial statements of CK Hutchison.”

CK Hutchison plans to maintain its shareholding in Chi-Med as a strategic investment for the long term as it continues to strive to become a global biopharmaceutical company.

[its the oxman] 30/9/2019 12:14

Fall seems way overdone.

[its the oxman] 30/9/2019 12:13

Not sure what can be done to turn things around here

[waldron] 29/9/2019 19:05

Nerdofsteel
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Press Release - Sunday 29th September