SG buybacks Wednesday: OCBC, Jardine Matheson, HK Land, Geo Energy, OUE, Pan-United

OCBC building in Signapore’s central business districtOCBC building in Signapore’s central business district. Photo taken pre-Covid.

Singapore companies announcing share buybacks on Wednesday, 19 January 2022: OCBC, Jardine Matheson Holdings, Hongkong Land, Geo Energy Resources, G.H.Y Culture & Media Holding, OUE, Pan-United Corp., Global Investments Ltd., Kim Heng Ltd. and SHS Holdings. 

OCBC

OCBC bought back 200,000 shares in the market at S$12.20 each for a total consideration, including other costs, of around S$2.44 million, the bank said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 30,000 shares in the market at US$58.90 to US$60.00 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$1.8 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 210,000 shares in the market at US$5.42 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$1.16 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.

Geo Energy Resources

Geo Energy Resources bought back 200,000 shares in the market at S$0.33 each for a total consideration, including other costs, of around S$66,155, the coal miner said in a filing to SGX after the market close.

OUE

OUE bought back 8,000 shares in the market at S$1.34 each for a total consideration, including other costs, of around S$10,736, the property developer said in a filing to SGX after the market close.

Pan-United Corp.

Pan-United Corp. bought back 80,000 shares in the market at S$0.35 each for a total consideration, including other costs, of around S$28,162, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15718 each for a total consideration, including other costs, of around S$78,649, 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.

Kim Heng Ltd.

Kim Heng Ltd. bought back 50,000 shares in the market at S$0.08 each for a total consideration, including other costs, of around S$4,045, the company said in a filing to SGX after the market close.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 65,000 shares in the market at S$0.53231 each for a total consideration, including other costs, of around S$34,671, the company said in a filing to SGX after the market close.