SG buybacks Tuesday: Yangzijiang buys 3M shares; CapitaLand Investment, OUE, Boustead, HK Land, HG Metal

Singapore companies announcing share buybacks on Tuesday, 21 December 2021: Yangzijiang Shipbuilding (Holdings), CapitaLand Investment, OUE Ltd., Jardine Matheson Holdings, Hongkong Land, Boustead Singapore, G.K. Goh Holdings, CSC Holdings and HG Metal Manufacturing.

Yangzijiang Shipbuilding (Holdings)

Yangzijiang Shipbuilding (Holdings) bought back 3 million shares in the market at S$1.30 each for a total consideration, including other costs, of around S$3.90 million, the Chinese shipbuilder said in a filing to SGX after the market close.

CapitaLand Investment

CapitaLand Investment bought back 395,700 shares in the market at S$3.35 each for a total consideration, including other costs, of around S$1.33 million, the real estate investment manager said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 32,000 shares in the market at US$54.74 to US$56.18 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$1.8 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 251,000 shares in the market at US$5.2063 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$1.31 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.

OUE

OUE bought back 61,300 shares in the market at S$1.32 each for a total consideration, including other costs, of around S$81,037, the property developer said in a filing to SGX after the market close.

OUE, Singapore, Indonesia, United States, Hospitality & Tourism, Malaysia, Retail, China, REITs, Healthcare

G.K. Goh Holdings

G.K. Goh Holdings bought back 65,400 shares in the market at S$1.12 each for a total consideration, including other costs, of around S$73,436, the company said in a filing to SGX after the market close. The repurchased shares will be canceled, the filing said.

G.K. Goh Holdings is an investment company owning operating businesses and a portfolio of investments, including listed and unlisted equities, third-party managed funds and some non-controlling minority stakes. The company also acts as a co-investor for private-equity firms, family offices and insurance companies. It has invested in fiber optic networks in Europe, aged-care in Australia and a Japan REIT.

Boustead Singapore

Boustead Singapore bought back 29,400 shares in the market at S$0.97 each for a total consideration, including other costs, of around S$28,576, the company said in a filing to SGX after the market close.

The company, founded in 1828 as a commodity-trading firm, is an engineering services group, specialising in energy-related engineering, water and waste-water engineering and industrial real-estate services.

HG Metal Manufacturing

HG Metal Manufacturing bought back 15,000 shares in the market at S$0.375 to S$0.38 each for a total consideration, including other costs, of around S$5,721, 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.

Pan-United Corp.

Pan-United Corp. bought back 250,000 shares in the market at S$0.318 each for a total consideration, including other costs, of around S$79,895, the concrete maker said in a filing to SGX after the market close.

CSC Holdings

CSC Holdings bought back 1 million shares in the market at S$0.014 each for a total consideration, including other costs, of around S$14,049, the company said in a filing to SGX after the market close.

 

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