UPDATE: Singapore buybacks Monday: Jardine Matheson buys back 993,000 shares; HK Land, OCBC, SGX, UOB

SGX building on Shenton Way in SingaporeSGX building on Shenton Way in Singapore

Singapore companies announcing share buybacks on Monday, 15 November 2021: Hongkong Land, Jardine Matheson Holdings, OCBC, Singapore Exchange (SGX), Global Investments and MDR.

This item was originally published on Monday, 15 November 2021 at 19:49 SGT; it has since been updated to include UOB and Singtel. 

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 993,000 shares in the market at US$59.87 to US$60 each, the company said in a filing to SGX after the market close. The repurchased shares will be cancelled, the filing said.

A back-of-the-envelope calculation suggests the buyback was valued at as much as US$59.58 million.

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 around 50.4 percent of Hongkong Land and around 59.2 percent of Jardine Matheson.

Hongkong Land

Hongkong Land bought back 1,003,200 shares in the market at US$5.64 to US$5.75 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 suggests the buyback was valued at as much as US$5.77 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.

Singtel

Singtel bought back 620,500 shares in the market at S$2.57 each for a total consideration, including other costs, of around S$1.60 million, the telco said in a filing to SGX after the market close.

The repurchased shares will be used to meet share-award obligations under the Singtel performance share plan and as permitted under the Singapore Companies Act, the filing said.

UOB

UOB bought back 72,000 shares in the market at S$27.49 to S$27.68 each for a total consideration, including other costs, of around S$1.99 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$11.79 each for a total consideration, including other costs, of around S$2.36 million, the bank said in a filing to SGX after the market close.

Singapore Exchange

Singapore Exchange (SGX) bought back 109,000 shares in the market at S$9.51 to S$9.53 each for a total consideration, including other costs, of around S$1.04 million, the exchange operator said in a filing to SGX after the market close.

The repurchased shares will be used for the share-based remuneration and restricted share plans, the filing said.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15799 each for a total consideration, including other costs, of around S$79,055, 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 80,000 shares in the market at S$0.075 each for a total consideration, including other costs, of around S$6,009, the company said in a filing to SGX after the market close.

 

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