SG buybacks Tuesday: StarHub buys 900,000 shares; SGX, Keppel, HK Land, Hour Glass

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Singapore companies announcing share buybacks on Tuesday, 22 February 2022: Singapore Exchange (SGX), The Hour Glass, Hongkong Land, Jardine Matheson Holdings, Silverlake Axis, Keppel Corp. and StarHub.

Singapore Exchange

Singapore Exchange (SGX) bought back 59,000 shares in the market at S$9.51 each for a total consideration, including other costs, of around S$561,630, the exchange operator said in a filing to SGX after the market close.

The repurchased shares will be used for the share-based remuneration and restricted share plans, the filing said.

Keppel Corp.

Keppel Corp. bought back 765,000 shares at S$6.03 to S$6.06 each for a total consideration, including other costs, of around S$4.63 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 287,800 shares in the market at US$5.56 to US$5.61 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 least at US$1.6 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 35,100 shares in the market at US$59.20 to US$59.86 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 least at US$2.08 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.

StarHub

StarHub bought back 900,000 shares in the market at S$1.28 to S$1.29 each for a total consideration, including other costs, of around S$1.16 million, the telco said in a filing to SGX after the market close.

Silverlake Axis

Silverlake Axis bought back 832,400 shares in the market at S$0.2912 each for a total consideration, including other costs, of around S$242,686, the banking software developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 82,500 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$165,424, the watch retailer said in a filing to SGX after the market close.