SG buybacks Monday: OCBC, Keppel, SGX, Valuetronics, Raffles Medical, HK Land, Hour Glass

OCBC branch in SingaporeOCBC branch in Singapore. Photo taken pre-Covid.

Singapore companies announcing share buybacks on Monday, 28 February 2022: Keppel Corp., OCBC, Singapore Exchange (SGX), Hongkong Land, Jardine Matheson Holdings, Valuetronics Holdings, Ban Leong Technologies, The Hour Glass, Broadway Industrial Group, Global Investments Ltd., and Raffles Medical Group. 

OCBC

OCBC bought back 100,000 shares in the market at S$11.61 each for a total consideration, including other costs, of around S$1.16 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$9.34 to S$9.41 each for a total consideration, including other costs, of around S$1.02 million, the exchange operator said in a filing to SGX after the market close.

Keppel Corp.

Keppel Corp. bought back 1.39 million shares at S$5.85 to S$5.98 each for a total consideration, including other costs, of around S$8.25 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 623,000 shares in the market at US$5.33 to US$5.55 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$3.32 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 65,000 shares in the market at US$59 to US$59.91 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$3.84 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.

Raffles Medical Group

Raffles Medical Group bought back 800,000 shares in the market at S$1.15 to S$1.16 each for a total consideration, including other costs, of around S$925,384, the hospital operator said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 34,500 shares in the market at S$2.00 each for a total consideration, including other costs, of around S$69,178, the watch retailer said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 438,700 shares in the market at S$0.53 each for a total consideration, including other costs, of around S$233,069, the electronics manufacturing services 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$0.1519 each for a total consideration, including other costs, of around S$76,007, 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.

Broadway Industrial Group

Broadway Industrial Group bought back 500,000 shares in the market at S$0.1994 each for a total consideration, including other costs, of around S$100,170, 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.

Ban Leong Technologies

Ban Leong Technologies bought back 52,000 shares in the market at S$0.38 to S$0.385 each for a total consideration, including other costs, of around S$19,927, the consumer electronics distributor said in a filing to SGX after the market close.

The company is the authorised distributor for more than 45 brand names, including Samsung, Razer, LG and Logitech, across Singapore, Malaysia and Thailand.