SG buybacks Tuesday: Yangzijiang buys 5M shares; HK Land, OUE, JMH, Boustead

An aerial view of Singapore’s portAn aerial view of Singapore’s port

Singapore companies announcing share buybacks on Tuesday, 25 January 2022: Yangzijiang Shipbuilding (Holdings), Hongkong Land, Jardine Matheson Holdings, OUE Ltd., The Hour Glass and Boustead Singapore. 

Yangzijiang Shipbuilding (Holdings)

Yangzijiang Shipbuilding (Holdings) bought back 5 million shares in the market at S$1.27 each for a total consideration, including other costs, of around S$6.36 million, the Chinese shipbuilder said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 316,000 shares in the market at US$5.45 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$1.73 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.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 88,000 shares in the market at US$59.27 to US$59.80 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$5.26 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 owned around 59.31 percent of Jardine Matheson as of 11 March 2021. Jardine Matheson is the controlling shareholder of Jardine Strategic. In addition, Jardine Matheson’s group businesses include: Jardine Pacific, Jardine International Motors (JIM), Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage (Jardine C&C) and Astra.

Boustead Singapore

Boustead Singapore bought back 161,300 shares in the market at S$0.97 each for a total consideration, including other costs, of around S$156,779, 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 50,000 shares in the market at S$1.325 each for a total consideration, including other costs, of around S$66,349, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 191,000 shares in the market at S$1.86518 each for a total consideration, including other costs, of around S$357,165, the watch retailer said in a filing to SGX after the market close.