SG buybacks Wednesday: ST Engineering, Nanofilm, Venture, Geo Energy, HK Land

ST Engineering display at CommunicAsia conference in Singapore in 2019.ST Engineering display at CommunicAsia conference in Singapore in 2019.

Singapore companies announcing share buybacks on Wednesday, 12 January 2022: ST Engineering, Jardine Matheson Holdings, Hongkong Land, Food Empire Holdings, Venture Corp., OUE Ltd., The Hour Glass, G.H.Y Culture & Media Holdings, Geo Energy Resources, Nanofilm Technologies International, SHS Holdings, Hotung Investment Holdings and Global Investments Ltd.

Nanofilm Technologies International

Temasek-backed Nanofilm Technologies International bought back 500,000 shares at S$3.44 to S$3.50 each for a total consideration, including other costs, of around S$1.74 million, the company said in a filing to SGX after the market close.

ST Engineering

ST Engineering bought back 500,000 shares in the market at S$3.71 to S$3.73 each for a total consideration, including other costs, of around , the aerospace and defense company said in a filing to SGX after the market close.

Venture Corp.

Venture Corp. bought back 25,000 shares in the market at S$17.85 each, for a total consideration, including other costs, of around S$446,823, the contract manufacturer said in a filing to SGX after the market close.

Geo Energy Resources

Geo Energy Resources bought back 300,000 shares in the market at S$0.34 each for a total consideration, including other costs, of around S$102,240, the coal miner said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 42,000 shares in the market at US$58.25 to US$58.80 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$2.47 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 354,000 shares in the market at US$5.39 to US$5.54 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$1.96 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 25,000 shares in the market at S$1.35 each for a total consideration, including other costs, of around S$33,801, the property developer said in a filing to SGX after the market close.

SHS Holdings

SHS Holdings bought back 2.477 million shares in the market at S$0.155 each for a total consideration, including other costs, of around S$385,127, the company said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 76,100 shares in the market at S$1.99961 each for a total consideration, including other costs, of around S$152,561, the watch retailer said in a filing to SGX after the market close.

Food Empire Holdings

Food Empire Holdings bought back 150,000 shares in the market at S$0.77468 each for a total consideration, including other costs, of around S$116,563, 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 10,000 shares in the market at S$2.18 each for a total consideration, including other costs, of around S$21,849, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15676 each for a total consideration, including other costs, of around S$78,439, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 55,000 shares in the market at S$0.55409 each for a total consideration, including other costs, of around S$30,537, the company said in a filing to SGX after the market close.