SG buybacks Thursday: Jardine Matheson, OUE, HK Land, Pan-United, Singapore Shipping, Global Invest

Mandarin Oriental’s Excelsior hotel in Hong KongMandarin Oriental’s Excelsior hotel in Hong Kong

Singapore companies announcing share buybacks on Thursday, 30 December 2021: Jardine Matheson Holdings, Hongkong Land, OUE Ltd., Pan-United Corp., Singapore Shipping Corp., SHS Holdings and Global Investments Ltd.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 13,900 shares in the market at US$55.58 to US$55.93 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$777,427.

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 163,000 shares in the market at US$5.23 to US$5.29 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$862,270.

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 50,000 shares in the market at S$1.35 each for a total consideration, including other costs, of around S$67,601, the property developer said in a filing to SGX after the market close.

Global Investments

Global Investments Ltd. bought back 352,600 shares in the market at S$0.15444 each for a total consideration, including other costs, of around S$54,497, 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 699,000 shares in the market at S$0.155 each for a total consideration, including other costs, of around S$108,682, the company said in a filing to SGX after the market close.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 164,600 shares in the market at S$0.295 each for a total consideration, including other costs, of around S$48,620, the company said in a filing to SGX after the market close.

Singapore Shipping is an Asian shipping group, involved in owning and managing ships as well as shipping agency, terminal operations and logistics services.

Pan-United Corp.

Pan-United Corp. bought back 370,200 shares in the market at S$0.334 each for a total consideration, including other costs, of around S$124,031, the concrete maker said in a filing to SGX after the market close.

 

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