SG buybacks Thursday: Nanofilm buys 500,000 shares; HK Land, OUE, Hour Glass, HG Metal

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 13 January 2022: Hongkong Land, Jardine Matheson Holdings, OUE Ltd., Nanofilm Technologies International, Food Empire Holdings, The Hour Glass, Global Investments Ltd., HG Metal Manufacturing, Hotung Investment Holdings, and SHS Holdings.

Nanofilm Technologies International

Temasek-backed Nanofilm Technologies International bought back 500,000 shares at S$3.44 to S$3.46 each for a total consideration, including other costs, of around S$1.73 million, the company said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 351,200 shares in the market at US$5.40 to US$5.46 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$1.92 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.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 39,100 shares in the market at US$58.36 to US$58.73 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$2.30 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.

The Hour Glass

The Hour Glass bought back 217,300 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$435,716, the watch retailer said in a filing to SGX after the market close.

OUE

OUE bought back 20,000 shares in the market at S$1.35 each for a total consideration, including other costs, of around S$27,040, the property developer said in a filing to SGX after the market close.

Food Empire Holdings

Food Empire Holdings bought back 100,000 shares in the market at S$0.774 each for a total consideration, including other costs, of around S$77,640, the company said in a filing to SGX after the market close.

The company is a food and beverage maker, with products including instant beverages, frozen convenience food and snack food. Its brands include Kracks potato chips, Orien Bites frozen finger food, Bolt malt drink and three-in-one instant coffee brands CafeRite and Petrovskaya Sloboda.

Hotung Investment

Hotung Investment bought back 96,200 shares in the market at S$2.18 to S$2.20 each for a total consideration, including other costs, of around S$211,537, 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 2.5 million shares in the market at S$0.155 each for a total consideration, including other costs, of around S$388,703, the company said in a filing to SGX after the market close.

HG Metal Manufacturing

HG Metal Manufacturing bought back 199,900 shares in the market at S$0.39 each for a total consideration, including other costs, of around S$78,162, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15632 each for a total consideration, including other costs, of around S$78,219, 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.

 


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