Singapore share buybacks Thursday: Hongkong Land, ST Engineering, Wing Tai, Broadway, MDR, Global Investments

ST Engineering display at CommunicAsia conference in Singapore in 2019.ST Engineering display at CommunicAsia conference in Singapore in 2019.

These are Singapore companies which announced share buybacks on Thursday, 28 October 2021: Hongkong Land, ST Engineering, Wing Tai Holdings, Broadway Industrial, Global Investments and MDR Ltd.

Hongkong Land

Hongkong Land bought back 4,147,950 shares in the market at US$5.4498 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.

A back-of-the-envelope calculation puts the amount of the buyback at around US$22.61 million.

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 held around 50.4 percent of Hongkong Land as of 16 April 2021, and around 59.1 percent of Jardine Matheson as of 5 March 2020.

ST Engineering

ST Engineering bought back 500,000 shares in the market at S$3.85 to S$3.86 each for a total consideration, including other costs, of around S$1.93 million, the aerospace and defense company said in a filing to SGX after the market close.

Wing Tai Holdings

Wing Tai Holdings bought back 250,000 shares in the market at S$1.93606 each for a total consideration, including other costs, of around S$484,999, the property developer said in a filing to SGX after the market close.

Broadway Industrial Group

Broadway Industrial Group bought back 500,000 shares in the market at S$0.20 each for a total consideration, including other costs, of around S$100,471, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15793 each for a total consideration, including other costs, of around S$79,025, 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.

MDR

MDR Ltd. bought back 115,200 shares in the market at S$0.078 each for a total consideration, including other costs, of around s$8,999, the company said in a filing to SGX after the market close.

 

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