SG buybacks Thursday: ST Engineering buys 500,000 shares; OCBC, JMH, HK Land, OUE

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 Thursday, 20 January 2022: ST Engineering, Jardine Matheson Holdings, Hongkong Land, OUE Ltd., Geo Energy Resources, OCBC, G.H.Y Culture & Media Holding, Boustead Singapore, Global Investments Ltd. and SHS Holdings.

ST Engineering

ST Engineering bought back 500,000 shares in the market at S$3.69 to S$3.72 each for a total consideration, including other costs, of around S$1.86 million, the aerospace and defense company said in a filing to SGX after the market close.

OCBC

OCBC bought back 200,000 shares in the market at S$12.27 each for a total consideration, including other costs, of around S$2.46 million, the bank said in a filing to SGX after the market close.

Geo Energy Resources

Geo Energy Resources bought back 100,000 shares in the market at S$0.33 each for a total consideration, including other costs, of around S$33,078, the coal miner said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 208,400 shares in the market at US$58.30 to US$59.50 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$12.40 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 265,800 shares in the market at US$5.44 to US$5.52 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$1.47 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.

Boustead Singapore

Boustead Singapore bought back 64,600 shares in the market at S$0.97 each for a total consideration, including other costs, of around S$62,790, the company said in a filing to SGX after the market close.

The company, founded in 1828 as a commodity-trading firm, is an engineering services group, specialising in energy-related engineering, water and waste-water engineering and industrial real-estate services.

OUE

OUE bought back 11,700 shares in the market at S$1.33 each for a total consideration, including other costs, of around S$15,584, the property developer 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$0.157 each for a total consideration, including other costs, of around S$78,559, 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 50,000 shares in the market at S$0.541 each for a total consideration, including other costs, of around S$27,105, the company said in a filing to SGX after the market close.


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