UPDATE: Singapore buybacks Tuesday: SembMarine buys back 2.27M shares; HK Land, Singtel, SGX, UOB, OCBC

OCBC building in Signapore’s central business districtOCBC building in Signapore’s central business district. Photo taken pre-Covid.

These are Singapore companies which announced share buybacks on Tuesday, 16 November 2021: Sembcorp Marine (SembMarine), Jardine Matheson Holdings, Hongkong Land, Singtel, Singapore Exchange (SGX), OCBC, UOB, Singapore Shipping Corp., MDR Ltd., and Global Investments.

This item was originally published on Tuesday, 16 November 2021 at 19:20 SGT; it has since been updated to include CNMC Goldmine Holdings.

Sembcorp Marine (SembMarine)

Sembcorp Marine (SembMarine) bought back 2,265,500 shares in the market at S$0.086 each for a total consideration, including other costs, of around S$195,068, the rig-builder said in a filing to SGX after the market close.

Read more: SembMarine: Share buyback to meet awards under previous years’ employee share plans

OCBC

OCBC bought back 200,000 shares in the market at S$11.89 each for a total consideration, including other costs, of around S$2.38 million, the bank said in a filing to SGX after the market close.

UOB

UOB bought back 72,000 shares in the market at S$27.53 to S$27.78 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.

Hongkong Land

Hongkong Land bought back 405,100 shares in the market at US$5.70 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$2.33 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.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 27,300 shares in the market at US$59.84 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$1.64 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.

Singtel

Singtel bought back 620,500 shares in the market at S$2.55 to S$2.56 each for a total consideration, including other costs, of around S$1.59 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.

Singapore Exchange

Singapore Exchange (SGX) bought back 109,000 shares in the market at S$9.48 to S$9.49 each for a total consideration, including other costs, of around S$1.03 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.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 250,500 shares in the market at S$0.28 each for a total consideration, including other costs, of around S$70,230, the company said in a filing to SGX after the market close.

Singapore Shipping is an Asian shipping group, involved in owning and managing ships as well as shipping agency, terminal operations and logistics services.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15694 each for a total consideration, including other costs, of around S$78,529, 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.

CNMC Goldmine Holdings

CNMC Goldmine Holdings bought back 100,000 shares in the market at S$0.215 each for a total consideration, including other costs, of around S$21,555, the company said in a filing to SGX after the market close.

The Catalist-listed gold miner is developing the Sokor Gold Field Project, located in Kelantan state in Malaysia.

MDR

MDR Ltd. bought back 225,400 shares in the market at S$0.075 each for a total consideration, including other costs, of around S$16,931, the company said in a filing to SGX after the market close.

 

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