UPDATE: SG buybacks Wednesday: OCBC buys 100,000 shares; SGX, Keppel, StarHub, HK Land, Raffles Medical

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Singapore companies announcing share buybacks on Wednesday, 23 February 2022: Hongkong Land, Jardine Matheson Holdings, StarHub, Keppel Corp., OCBC, Singapore Exchange (SGX), Raffles Medical Group, Singapore Shipping Corp. and The Hour Glass. 

This item was originally published on Wednesday, 23 February 2022 at 20:42 SGT; it has since been updated to include Broadway Industrial Group.

OCBC

OCBC bought back 100,000 shares in the market at S$12.52 each for a total consideration, including other costs, of around S$1.25 million, the bank said in a filing to SGX after the market close.

Singapore Exchange

Singapore Exchange (SGX) bought back 109,000 shares in the market at S$9.49 to S$9.51 each for a total consideration, including other costs, of around S$1.04 million, the exchange operator said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 698,500 shares at S$5.99 to S$6.05 each for a total consideration, including other costs, of around S$4.21 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Jardine Matheson Holdings

Jardine Matheson Holdings bought back 10,600 shares in the market at US$59.15 to US$60 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$626,990.

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 221,000 shares in the market at S$1.27 each for a total consideration, including other costs, of around S$281,030, the telco said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 409,000 shares in the market at US$5.58 to US$5.70 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$2.28 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.

Raffles Medical Group

Raffles Medical Group bought back 800,000 shares in the market at S$1.21 to S$1.22 each for a total consideration, including other costs, of around S$975,459, the hospital operator said in a filing to SGX after the market close.

Broadway Industrial Group

Broadway Industrial Group bought back 750,000 shares in the market at S$0.19996 each for a total consideration, including other costs, of around S$150,436, the company said in a filing to SGX after the market close.

Broadway Industrial manufactures precision-machined components, including actuator arms and other parts for the hard disk drive (HDD) industry. The company has four manufacturing facilities across China and Thailand.

Singapore Shipping Corp.

Singapore Shipping Corp. bought back 119,000 shares in the market at S$0.28 each for a total consideration, including other costs, of around S$33,363, the company said in a filing to SGX after the market close.

Singapore Shipping is an Asian shipping group, involved in owning and managing ships as well as shipping agency, terminal operations and logistics services.

The Hour Glass

The Hour Glass bought back 2,900 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$5,815, the watch retailer said in a filing to SGX after the market close.