SG buybacks Friday: Jardine Matheson, HK Land, AEM, OUE, Kim Heng

Hong Kong street sceneHong Kong street scene

Singapore companies announcing share buybacks on Friday, 21 January 2022: Jardine Matheson Holdings, Hongkong Land, OUE Ltd., AEM Holdings, Kim Heng Ltd., Global Investments Ltd. and SHS Holdings.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 198,400 shares in the market at US$59.25 to US$59.79 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$11.86 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 816,800 shares in the market at US$5.44 to US$5.49 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$4.84 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.

AEM Holdings

AEM Holdings bought back 120,000 shares in the market at S$4.99 each for a total consideration, including other costs, of around S$600,338, the company said in a filing to SGX after the market close.

Temasek-backed AEM’s products include customized, application-specific semiconductor and electronics test and handling services for companies serving the advanced computing, 5G, and AI markets, the statement said. The company’s manufacturing plants are located Singapore, Malaysia, Indonesia, China, Finland and Vietnam.

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.

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$0.15781 each for a total consideration, including other costs, of around S$78,964, 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$0.078 each for a total consideration, including other costs, of around S$3,945, the company said in a filing to SGX after the market close.


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