UPDATE: Singapore share buybacks Tuesday: CapitaLand Investment, OCBC, UOB, Sembcorp, Q&M, Broadway

CLI’s portfolio of assets include new economy assets in its core markets of Singapore, China and India, such as Grade A office developments Capital Tower and 79 Robinson Road (pictured). Credit: CapitaLandCLI’s portfolio of assets include new economy assets in its core markets of Singapore, China and India, such as Grade A office developments Capital Tower and 79 Robinson Road (pictured). Credit: CapitaLand

These are Singapore companies which announced share buybacks on Tuesday, 12 October 2021: CapitaLand Investment.

This item was originally published on Tuesday, 12 October 2021 at 10:44 a.m. SGT; it has since been updated to include UOB, Hongkong Land, Jardine Matheson, Sembcorp Industries, OCBC, Broadway Industrial Group, Q & M Dental Group (Singapore), ST Group Food Industries Holdings, G.K. Goh Holdings, Global Investments and an additional item on CapitaLand Investment. 

CapitaLand Investment

CapitaLand Investment bought back 2 million shares in the market on Monday at S$3.37 to S$3.38 each for a total consideration, including other costs, of around S$6.76 million, the company said in a filing to SGX before the market open Tuesday.

In a separate statement, the company said it intends for the shares to be held as treasury shares to be used for the share schemes, rather than issuing new shares, to take advantage of tax deductions and mitigate the dilution impact on existing shareholders.

As CapitaLand Investment was only listed on 20 September, it did not hold any treasury shares until the purchase, the filing said.

“Subject to prevailing market conditions, the company intends to continue to make purchases of its shares via market purchases effected on the SGX-ST to increase its number of treasury shares in readiness for partially or fully satisfying any share award obligations under the company’s share schemes,” CapitaLand Investment said.

CapitaLand Investment

CapitaLand Investment bought back 789,800 shares in the market at S$3.34 to S$3.35 each for a total consideration, including other costs, of around S$2.64 million, the property investment company said in a filing to SGX after the market close.

UOB

UOB bought back 72,000 shares in the market at S$25.86 to S$26.14 each for a total consideration, including other costs, of around S$1.88 million, the bank said in a filing to SGX after the market close.

OCBC

OCBC bought back 200,000 shares in the market at S$11.53 each for a total consideration, including other costs, of around S$2.31 million, the bank said in a filing to SGX after the market close.

Sembcorp Industries

Sembcorp Industries bought back 400,000 shares in the market at S$1.905 each for a total consideration, including other costs, of around S$762,917, the infrastructure and energy company said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 267,500 shares in the market at US$4.90 to US$4.94 each, Jardine Matheson said in a notification filed to the U.K.’s Financial Conduct Authority and SGX on behalf of the company.  The repurchased shares will be cancelled, the filing said.

The company, which is listed on the London Stock Exchange, with secondary listings in Singapore and Bermuda, is a landlord and property developer in China, Hong Kong, Jakarta and Singapore. Jardine Strategic owns 50.4 percent of Hongkong Land and 59.2 percent of Jardine Matheson.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 43,200 shares in the market at US$53.50 to US$54.41 each, the company said in a filing to SGX after the market close. The repurchased shares will be cancelled, the filing said.

Jardine Matheson is a holding company operating mainly in China and Southeast Asia, with businesses including motor vehicles, property investment and development, luxury hotels, food retailing, heavy equipment and agribusiness. Jardine Strategic owns 50.4 percent of Hongkong Land and 59.2 percent of Jardine Matheson.

Q & M Dental Group (Singapore)

Q & M Dental Group (Singapore) bought back 1.4 million shares in the market at S$0.555 to S$0.56 each for a total consideration, including other costs, of around S$787,525, the dental services provider said in a filing to SGX after the market close.

Broadway Industrial

Broadway Industrial bought back 650,000 shares in the market at S$0.168 to S$0.17 each for a total consideration, including other costs, of around S$110,439, the company said in a filing to SGX after the market close.

Broadway Industrial manufactures precision-machined components, including actuator arms and other parts for the hard disk drive (HDD) industry. The company has four manufacturing facilities across China and Thailand.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 26,500 shares in the market at S$0.113 each for a total consideration, including other costs, of around S$3,023, the company said in a filing to SGX after the market close.

The Australia-based company holds franchise and license rights to nine brands, including PappaRich, NeNe Chicken, Gong Cha, Pafu, Kurimu Japanese Cream Choux, Hokkaido Baked Cheese Tart, IPPUDO and iDarts Australia. The group operates around 133 outlets across Australia, Malaysia, New Zealand and the United Kingdom.

G.K. Goh Holdings

G.K. Goh Holdings bought back 12,900 shares in the market at S$1.12 each for a total consideration, including other costs, of around S$14,497, the company said in a filing to SGX after the market close. The repurchased shares were cancelled, the company said.

G.K. Goh Holdings is an investment company owning operating businesses and a portfolio of investments, including listed and unlisted equities, third-party managed funds and some non-controlling minority stakes. The company also acts as a co-investor for private-equity firms, family offices and insurance companies. It has invested in fiber optic networks in Europe, aged-care in Australia and a Japan REIT.

Global Investments

Global Investments Ltd. bought back 480,000 shares in the market at S$0.15427 each for a total consideration, including other costs, of around S$74,105, the company said in a filing to SGX after the market close.

GIL invests in a cross-sector portfolio of assets which will generate steady income and potential appreciation; its investments include direct asset ownership, swaps, credit default swaps, debt, warrants, options, equity and loan agreements, according to its website. GIL is managed by Singapore Consortium Investment Management.

 

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