Member Info for Jatw

Paying good money to acquire failing products in the hope of revitalising them is not a strong business model…..however trying to offload the products division at a time of depressed demand is not easy and is unlikely to get a decent price.

All this chat about distributor failures is worrisome and seems to be escalating to only a few will survive….the fund raise to reorientate the company towards CaRE assets seems timely if meter growth may falter.

Gold5….HSBC is correct…..however my dog quite likes a pigs ear in his dinner.
As said by others here, Pru ducked negotiating a trade sale at what was probably judged to be a poor price and passed the problem to its shareholders and the market.
Fwiw I think JXN is worth much more than US25 per share.

We shall see the next phase of the market unfold this week as normal dealing starts.
There are still many forced sellers, but the volume on Friday in NY was promising at 4m.

I am not expecting JXN to be independent for long at this valuation…..I am hoping for something closer to $50 but reckon it will take a couple of years to work through the issues created at the end of Pru ownership.

The good news about enhertu highlights one of the inherent risks of investing in pharma….somebody creates a better product.
If you are in a small co with one or two products that is game over.
If you are big pharma, you can buy the innovator or take a hit on your portfolio. The big pharma are used to eating each other’s meals and try to coexist mostly.
What to do as a retail investor? Eithe buy a sector fund or hold a mix of stocks some large for the dividends and some small for a bet with a high risk reward.

https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0919/2021091900021.pdf

Link to the official HK a announcement of the placing and public offer

The UK sp was approx HKD155, the ADS of PUK was about 160HKD.
The institutional placing is priced on 25 sept…..expect some heavy selling this week to create an immediate profit for the new shareholders.

https://uk.finance.yahoo.com/news/analysis-chinas-biotech-sector-comes-230728570.html

Interesting article….CH cited at the end…..also name checks most of Hutchmeds Chinese collaborators innovent, junshi, Beigene.

First question is whether these are AVCs linked to an employer scheme or are free standing FSAVC

If the latter any pension provider can be used as a second pensions saving scheme…look at platform SIPP providers as well as traditional players. Key is fund selection and charges.

AVCs linked to an employers scheme may have additional terms that are attractive…but there will be no choice in provider. Consider whether those additional terms are better for you than going to a third party (Eg you may be able to use salary sacrifice to make them cheaper). One particular advantage if they have a Defined benefit pension is that you can use AVCs for tax free cash so you don’t have to take a reduced pension if you retire early.

The second question is how much you can put in, if it is a large amount it may be worth paying for some advice….the advice always has to weigh up other options relative to the in-house option, if you choose a provider that has a contingent charging basis you should v quickly be told to use the in-house scheme and stop wasting their time if it is clearly better.

If you are with a large scheme they may well provide some help or refer to an advisor to help with specific aims (Eg retiring early, lifetime allowance, pensionable earnings and annual pension savings limits). This subject gets quite technical and specific to the individual so using an advisor can really help…..if small sums of savings are involved go to pension wise for some practical help.

Hope that helps. I work in pensions but am not an advisor hence the general nature of these comments.

I don’t know if it possible to see the trading of HCM on the connect platform? I did a basic search on HKEX but nothing stood out to me.
I guess it is like anything today, the market needs something new or a story to move the price. I suspect mainland Chinese will buy in gradually….I doubt LKS and 0013 mean as much as they did in HK.
I don’t know if the recent weakness is due to others success….eg Beigene has a drug accepted in the US for marginal zone lymphomas which is a similar area that 689 is targeting.
Yesterday’s announcement of a UK trial of a blood test to detect early signs of 50 cancers has to be good news for all oncology companies as earlier detection means more patients for longer….let’s hope that works out.

Hortic
Previous mcap (114m x 10.30) = 1,174m
Add cash 175m
New mcap 1349m
Total shares = 133m
Theoretical sp £10.06

Theroretically now a bargain

My Jen.wi have landed at II
Waiting for HL

AW only posts to AVON (recently fell 40%) and HCM…..I conclude an accidental posting to the HCM aboard.

The market seems to have overreacted.
The results were as expected….but are reported as plunging 97% because of a huge asset trading gain last year. There is no hint of a profit warning.
The fall in n MV today wipes out the cash to be received which is barking mad….the theoretical price is higher, more like £10 if treated like a rights issue.

UKI 2.0 you should be in profit by 4 October.

Meter operators don’t seem to have suffered from failing distributors…but I get the point that new contracts may be harder to come by and existing instal contracts may terminate.

This fund raise appears to be to finance he Care business and presumably large construction costs.
The risks may be shifting from managing millions of small fees for meters to managing a few large battery build and operate contracts…..the former is more predictable, the latter riskier so let’s hope they have got good contracts in place rather than shouldering a lot of risk on behalf of grid managers.

There is Important work to be done moving the UK retail operations forward. Bousfield is the best current exec for the job. It is where there could be important M&A to bulk up M&G Wealth and slim the heritage insurance books.
It would not be surprising to see MNG divide into two parts in which case the MD retail savings is hardly a demotion.

Source please?
Is the revenue fall related to the sale of the JV for USD170m? Or the timing of the AZ milestone payment following approval of Orpathys (this would be 25m)

Directors taking advantage of a strong share price to raise new money.
£175m will underpin additional debt to finance the large grid scale battery installations.

I expect the shares will trade higher than the 900 issue price….we await progress updates on projects, their financing and how they perform against budget….let’s hope they have flexibility to recover increasing build and transportation costs.

Quite a chunky fund raise of 15% of mcap to institutional shareholders
Wonder what the price will be set at? 950? 900?

The pipeline is getting stronger, with exciting developments announced on 4 products over the last few weeks that will land in 2023/24.
While there is still lots of risk in new developments they carry little weight in today’s valuation.
I am confident that he best days lie ahead……

3m average trading per yahoo finance
HK 7000
SG 16
London 4.9m
That equates to virtually zero local interest in one of the major life cos.
When the local markets have sufficient volume, the valuation gap with AIA and Ping An will start to close.
Please get on with the HK offering ASAP.

It seems they are on top of regulatory interactions as evidenced by today’s RNS of the China breakthrough treatment designation for 689 which is accelerating rapidly..sounds like another NDA in late 22/ early 23 and launch in mid to late 23? The timing should be clearer with the next FY results…