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Hutchison China Meditech Ltd
Following the closing of its U.S. Public Offering of ADSs, raising approximately US$101m on the Nasdaq Stock Market, we would argue that that HCM would be considered dual listed. Furthermore, in our opinion the Group may also part qualify due to the significance of Investments in equity investees which could be considered as excepted assets by HMRC. Investments in equity investees were US$107m at 30 June 2020, representing 31 per cent of net assets of US$342m. Share of profits from the equity investees were US$30m for the 6 months ending 30 June 2020 compared to group losses of US$47m before this. i.e. equity investees are far more profitable than wholly owned group businesses. In our opinion this structure runs counter to the true intention of the Business Relief rules and the assumption of trading risk. This is our assessment and we recommend you contact your professional adviser for further advice.

From publicly available information available to us at the time we last updated this information, our research suggests Hutchison China Meditech Ltd (HCM) is Dual Listed (Non-qualifying for IHT purposes).

* IHT qualifying is defined as being a company an investment in which would qualify for relief for IHT planning purposes

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This search result has been obtained from sources which are believed to be reliable but cannot be guaranteed. Investor's Champion Ltd makes no guarantee, representation or warranty and accepts no responsibility or liability as to the accuracy or completeness of this search result. We recommend you contact your professional adviser before entering into any contract to buy or sell any security. The information last updated on 19 Oct 2016. In order to qualify for relief for IHT planning purposes the company in which an investment is made must qualify for relief at the time the investor dies.