UPDATE: Singapore share buybacks Friday: ST Engineering buys 500,000 shares; CLI, OCBC, SGX, HK Land, JMH

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 Friday, 19 November 2021: ST Engineering, CapitaLand Investment, OCBC, Singapore Exchange (SGX), Hongkong Land, Jardine Matheson Holdings, First Resources, Tuan Sing Holdings, Global Palm Resources Holdings, Broadway Industrial Group and Global Investments.

This item was originally published on Friday, 19 November 2021 at 19:16 SGT; it has since been updated to include UOB. 

ST Engineering

ST Engineering bought back 500,000 shares in the market at S$3.95 to S$3.96 each for a total consideration, including other costs, of around S$1.98 million, the aerospace and defense company said in a filing to SGX after the market close.

CapitaLand Investment

CapitaLand Investment bought back 1,615,600 shares in the market at S$3.36 each for a total consideration, including other costs, of around S$5.44 million, the real estate investment manager said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 179,100 shares in the market at US$5.69 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$1.03 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 17,000 shares in the market at US$59.95 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$1.02 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.

UOB

UOB bought back 72,000 shares in the market at S$27.54 to S$27.78 each for a total consideration, including other costs, of around S$2.0 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$9.38 to S$9.39 each for a total consideration, including other costs, of around S$1.02 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.

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.

First Resources

First Resources bought back 400,000 shares in the market at S$1.46 to S$1.47 each for a total consideration, including other costs, of around S$586,503, the company said in a filing to SGX after the market close.

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.

Broadway Industrial Group

Broadway Industrial Group bought back 500,000 shares in the market at S$0.22 each for a total consideration, including other costs, of around S$110,342, 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.

Tuan Sing Holdings

Tuan Sing Holdings bought back 5,000 shares in the market at S$0.48 each for a total consideration, including other costs, of around S$2,444, the company said in a filing to SGX after the market close.

The company is involved in property development and real estate and hotel investments, with operations across Singapore, China, Indonesia and Australia. Tuan Sing Holdings also has an around 80 percent stake in Singapore-listed subsidiary SP Corp. and a 44.5 percent interest in printed circuit board maker Gul Technologies Singapore, according to the company website.

Global Palm Resources Holdings

Global Palm Resources Holdings bought back 4,200 shares in the market at S$0.21 each for a total consideration, including other costs, of around S$910, the company said in a filing to SGX after the market close.

 

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