SG buybacks Thursday: Hongkong Land buys 131,000 shares; OUE, Jardine Matheson, Raffles Medical, Sarine

The OUE Downtown building in Singapore’s central business district. Credit: Shenton WireThe OUE Downtown building in Singapore’s central business district. Credit: Shenton Wire

Singapore companies announcing share buybacks on Thursday, 23 December 2021: Jardine Matheson Holdings, Hongkong Land, Sarine Technologies, Pan-United Corp., Raffles Medical Group and OUE Ltd.

OUE

OUE bought back 91,300 shares in the market at S$1.3353 each for a total consideration, including other costs, of around S$122,096, the property developer said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 8,900 shares in the market at US$55.20 to US$55.70 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$495,730.

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 131,000 shares in the market at US$5.12 to US$5.18 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$678,580.

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.

Raffles Medical Group

Raffles Medical Group bought back 62,300 shares in the market at S$1.34 each for a total consideration, including other costs, of around S$83,607, the hospital operator said in a filing to SGX after the market close.

Pan-United Corp.

Pan-United Corp. bought back 170,000 shares in the market at S$0.325 each for a total consideration, including other costs, of around S$55,510, the concrete maker said in a filing to SGX after the market close.

Sarine Technologies

Sarine Technologies bought back 200,000 shares in the market at S$0.585 to S$0.59 each for a total consideration, including other costs, of around S$118,000, the company said in a filing to SGX early Thursday for shares acquired on 22 December.

 

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