UPDATE: SG buybacks Monday: OCBC buys 200,000 shares; Jardine Matheson, HK Land, OUE, Hour Glass

OCBC Bank branchOCBC Bank branch

Singapore companies announcing share buybacks on Monday, 17 January 2022: OCBC, Jardine Matheson Holdings, Hongkong Land, OUE Ltd., Pan-United Corp., G.H.Y Culture & Media Holding, The Hour Glass, Global Investments Ltd., and SHS Holdings.

This item was originally published on Monday, 17 January 2022 at 21:38 SGT; it has since been updated to add Food Empire Holdings.

OCBC

OCBC bought back 200,000 shares in the market at S$12.34 each for a total consideration, including other costs, of around S$2.47 million, the bank said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 23,000 shares in the market at US$58.76 to US$59.68 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$1.37 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 143,000 shares in the market at US$5.40 to US$5.45 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$779,350.

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 15,000 shares in the market at S$1.34 each for a total consideration, including other costs, of around S$20,130, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 50,300 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$100,859, the watch retailer said in a filing to SGX after the market close.

Pan-United Corp.

Pan-United Corp. bought back 160,000 shares in the market at S$0.345 each for a total consideration, including other costs, of around S$55,446, the concrete maker said in a filing to SGX after the market close.

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.

Food Empire Holdings

Food Empire Holdings bought back 150,000 shares in the market at S$0.76243 each for a total consideration, including other costs, of around S$114,719, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15657 each for a total consideration, including other costs, of around S$78,344, 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 20,000 shares in the market at S$0.5475 each for a total consideration, including other costs, of around S$10,998, the company said in a filing to SGX after the market close.


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