SG buybacks Tuesday: OCBC buys 200,000 shares; Jardine Matheson, HK Land, Wing Tai, Raffles Medical

OCBC ATMs in SingaporeOCBC ATMs in Singapore

Singapore companies announcing share buybacks on Tuesday, 14 December 2021: OCBC, Wing Tai Holdings Hongkong Land, Jardine Matheson Holdings, ST Group Food Industries Holdings, Pan-United Corp., HG Metal Manufacturing, The Hour Glass, Raffles Medical Group, SHS Holdings and Global Investments.

OCBC

OCBC bought back 200,000 shares in the market at S$11.34 each for a total consideration, including other costs, of around S$2.27 million, the bank said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 88,800 shares in the market at US$55.38 to US$56.10 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$4.98 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 1,254,600 shares in the market at US$5.44 to US$5.50 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 around US$6.9 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.

Wing Tai Holdings

Wing Tai Holdings bought back 267,900 shares in the market at S$1.85895 each for a total consideration, including other costs, of around S$499,026, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 10,000 shares in the market at S$1.98 each for a total consideration, including other costs, of around S$19,851, the watch retailer said in a filing to SGX after the market close.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 120,000 shares in the market at S$0.145 each for a total consideration, including other costs, of around S$17,459, 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.

Raffles Medical Group

Raffles Medical Group bought back 100,000 shares in the market at S$1.33 each for total consideration, including other costs, of around S$133,199, the hospital operator said in a filing to SGX after the market close.

Pan-United Corp.

Pan-United Corp. bought back 99,800 shares in the market at S$0.315 each for a total consideration, including other costs, of around S$31,619, the concrete maker said in a filing to SGX after the market close.

HG Metal Manufacturing

HG Metal Manufacturing bought back 90,500 shares in the market at S$0.375 each for a total consideration, including other costs, of around S$34,025, the company said in a filing to SGX after the market close.

HG Metal Manufacturing is one of the largest steel distributors and processors in the Southeast Asian region.

Global Investments

Global Investments Ltd. bought back 150,000 shares in the market at S$0.154 each for a total consideration, including other costs, of around S$23,118, 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.

SHS Holdings

SHS Holdings bought back 600,000 shares in the market at S$0.155 each for a total consideration, including other costs, of around S$93,438, the company said in a filing to SGX after the market close.

 

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