SG buybacks Tuesday: Nanofilm buys 500,000 shares, Jardine Matheson, OUE, HK Land, Global Palm

The OUE Downtown 2 building in Singapore’s Central Business District. Credit: Shenton WireThe OUE Downtown 2 building in Singapore’s Central Business District. Credit: Shenton Wire

Singapore companies announcing share buybacks on Tuesday, 11 January 2022: Nanofilm, Technologies International, Jardine Matheson Holdings, Hongkong Land, OUE Ltd., The Hour Glass, Broadway Industrial Group, SHS Holdings, Global Investments Ltd., Global Palm Resources Holdings, HG Metal Manufacturing Ltd., and CSC Holdings.

Nanofilm Technologies International

Temasek-backed Nanofilm Technologies International bought back 500,000 shares at S$3.36 to S$3.48 each for a total consideration, including other costs, of around S$1.71 million, the company said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 149,000 shares in the market at US$57.50 to US$58.00 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$8.64 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 300,000 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$1.65 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 20,000 shares in the market at S$1.3462 each for a total consideration, including other costs, of around S$26,964, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 50,000 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$100,257, the watch retailer said in a filing to SGX after the market close.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15646 each for a total consideration, including other costs, of around S$78,289, 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.

Broadway Industrial Group

Broadway Industrial Group bought back 26,800 shares in the market at S$0.21 each for a total consideration, including other costs, of around S$5,674, the company said in a filing to SGX after the market close.

Broadway Industrial manufactures precision-machined components, including actuator arms and other parts for the hard disk drive (HDD) industry. The company has four manufacturing facilities across China and Thailand.

Hotung Investment

Hotung Investment bought back 59,400 shares in the market at S$2.16 to S$2.20 each for a total consideration, including other costs, of around S$130,678, the company said in a filing to SGX after the market close.

Venture capital investment management group Hotung Investment has invested in over 700 companies, with investments targeting e-commerce, manufacturing, healthcare, biotech and agricultural innovations as well as artificial intelligence (AI) and cloud services.

SHS Holdings

SHS Holdings bought back 2,463,100 shares in the market at S$0.155 each for a total consideration, including other costs, of around S$382,966, the company said in a filing to SGX after the market close.

Global Palm Resources

Global Palm Resources Holdings bought back 34,900 shares in the market at S$0.205 each for a total consideration, including other costs, of around S$7,185, the palm oil producer said in a filing to SGX after the market close.

HG Metal Manufacturing

HG Metal Manufacturing bought back 121,800 shares in the market at S$0.39 each for a total consideration, including other costs, of around S$47,624, 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.

CSC Holdings

CSC Holdings bought back 3.5 million shares in the market at S$0.014 each for a total consideration, including other costs, of around S$49,152, the company said in a filing to SGX after the market close.