SG buybacks Wednesday: Jardine Matheson buys around 46,500 shares; HK Land, OUE, GK Goh, Hour Glass

Hong Kong street sceneHong Kong street scene

Singapore companies announcing share buybacks on Wednesday, 22 December 2021: Jardine Matheson Holdings, Hongkong Land, G.K. Goh Holdings, CSC Holdings, Pan-United Corp., The Hour Glass and OUE Ltd.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 46,500 shares in the market at US$54.81 to US$55.91 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$2.60 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 131,200 shares in the market at US$5.09 to US$5.17 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$678,304.

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 147,500 shares in the market at S$1.3234 each for a total consideration, including other costs, of around S$195,494, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 248,000 shares in the market at S$1.99694 each for a total consideration, including other costs, of around S$496,513, the watch retailer said in a filing to SGX after the market close.

CSC Holdings

CSC Holdings bought back 2.7 million shares in the market at S$0.014 each for a total consideration, including other costs, of around S$37,918, the company said in a filing to SGX after the market close.

Pan-United Corp.

Pan-United Corp. bought back 80,000 shares in the market at S$0.32 each for a total consideration, including other costs, of around S$25,748, the concrete maker said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 1,000 shares in the market at S$1.12 each for a total consideration, including other costs, of around S$1,163, 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.

 

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