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Yup, waiting on quite a few - also waiting for THG shareholder page as seems to have moved, not available last few days?

The average volume on NASDAQ is 484,735 divided by 5, say 100k for ease.

https://www.nasdaq.com/market-activity/stocks/hcm

Hong Kong yesterday traded 1.9m

https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=13&sc_lang=en

Even London traded 250k

https://uk.advfn.com/p.php?pid=quote&symbol=LSE%3AHCM

My point here is cost, I don't know the exact figure to both list and maintain compliance but based on my knowledge of London would put the figure between 500 - $750k per annum, is it worth it?

The UT was a biggie, we may see this show in tomorrows Rule 8 notices, shorts are still there, AHL have just gone under notifiable threshold (see earlier post)

Mentioned possible liquidity issues preventing AHL from closing sooner, but also note they have increased retail short positions on both Boo and Asos recently.

https://shorttracker.co.uk/manager/ahl-partners-llp/

What's interesting about the AHL Partners LLP reduction is short position is how long it took them to go from:

0.59% 20 May 2022 > > 0.49% 30 May 2022

These are tiny amounts indicating a lack of liquidity at these levels, i.e very few sellers other than perhaps T Rowe.

Is everyone able to access these chart pages, if not will use Yahoo instead.

Volume over last week or so in London unusually high.

https://uk.advfn.com/stock-market/london/hutchmed-china-HCM/chart/real-time

https://shorttracker.co.uk/company/GB00BMTV7393/

Similar article:

"World leading asset managers have also stepped up their investment in US-listed Chinese mainland companies despite the SEC identifying certain companies for possible delisting.

In the first quarter, BlackRock has increased its exposure to electric carmaker Li Auto Inc by 5 percent to $772 million. Similarly, Bridgewater Associates has increased its exposure to Alibaba, Pinduoduo and Baidu by 75 percent, 85 percent and 50 percent, respectively."

http://www.chinadaily.com.cn/a/202205/31/WS62956f8ba310fd2b29e5ff4b.html

I tend not to focus on what the market participants are doing but instead, where is the money going.

Belerion / King Street have been active every day albeit overall volumes are still small, perhaps they are here to mop up the excess float ahead of an MBO type of deal?

The price will have to move soon, simply non existent volume at these levels.

Really unique situation with stake building going on.

I guess the only caveat is they may have held this stock before the formal proposal, similar to Candy, that said leaving a quite late to declare if so.

It states 'opening position' which could apply to both scenarios, either way its another piece of the jigsaw unfolding.

Cantona, it relates to Belerion Capital Group Limited / King Street Capital Management, L.P. as PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

This was my original estimate from yesterday, not hugely out so we have an ongoing idea have how to keep tabs

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whilst I am not 100% certain, it seems as though Morgan Stanley & Co acting for their client King Street are passing on the net trades between buying and selling, the total selling figures also includes their own bid/offer position.

With regard to today's announcement it would equate to 2,315,529 being passed to King Street.

Given that 1% is roughly 12.2m share we may see a notice issued by King Street before long weekend, its possible.

Interesting development, it looks as though stock acquired through their broker is now being passed into New Wave Master Fund Limited.

Not a huge amount but we kind of new that already, but it's a start.

https://www.londonstockexchange.com/news-article/market-news/form-8-opd-belerion-king-street/15476077

Maybe they are following their own recommendations, its a start and clearly these guys are followed by market players.

https://sc.hkexnews.hk/gb/di.hkex.com.hk/di/NSForm2.aspx?fn=CS20220527E00316&sa2=an&sid=344192&corpn=HUTCHMED+(China)+Ltd.&sd=30%2f05%2f2021&ed=30%2f05%2f2022&cid=0&sa1=cl&scsd=30%2f05%2f2021&sced=30%2f05%2f2022&sc=13&src=MAIN&lang=EN&g_lang=en&

Reasonedthinker, ideally they need a large holder to purchase a block of shares, that would help them get some sort of voting advantage.

T Rowe is the only seller I have spotted so far, could be a possible candidate ?

All guess work at this stage.

My cents worth on current state of play;

Unsure of Candy approach but accept many personal connections/networking, that said actions speak louder than words and that's where King Street comes in.

King Street:

- they are active in the market so far on a daily basis although a long way from a meaningful stake
- This is their business, they have a reputation to protect, unlikely to go around making frivolous approaches.

- Strong connections with both board and CEO

- Putting a floor under the share price was my initial reaction but I think this has now moved forward given market activity, regulators may also take a dim view if this were the case.

whilst I am not 100% certain, it seems as though Morgan Stanley & Co acting for their client King Street are passing on the net trades between buying and selling, the total selling figures also includes their own bid/offer position.

With regard to today's announcement it would equate to 2,315,529 being passed to King Street.

Given that 1% is roughly 12.2m share we may see a notice issued by King Street before long weekend, its possible.

We should have a much better picture this week with many more declarations due, so for out of:

total number of shares 1,221,200,967

there have been 342,150,69 declared

Sofina, Matt and Softbank are among those expected.

You have misread my posts LongOdds, please read again.

No one objects to options in order to incentive staff far from it, however what we would like to see is a little more support from those in management positions wit high basic remunerations as standard, it would go a long way if they aligned themselves by making market purchases as well.

It sends a signal to the market and perhaps those short that maybe this is a undervalued, we as shareholders simply cannot convey that message.

Looks like a retail thing, reducing Asos also;

https://www.investegate.co.uk/asos-plc--asc-/rns/holding-s--in-company/202205031010510916K/

https://www.investegate.co.uk/asos-plc--asc-/rns/holding-s--in-company/202204291607349354J/