SG buybacks Monday: Keppel buys S$3.75M, OCBC, OUE, Pan-United, Valuetronics, Hong Fok, HK Land

The Ronsin Technology Center, located in Beijing. Allianz Real Estate and Alpha Investment Partners, part of Keppel Capital, entered a deal in October 2019 to acquire an 85 percent stake in the property. Credit: AllianzThe Ronsin Technology Center, located in Beijing. Allianz Real Estate and Alpha Investment Partners, part of Keppel Capital, entered a deal in October 2019 to acquire an 85 percent stake in the property. Credit: Allianz

Singapore companies announcing share buybacks on Monday, 14 March 2022: Hongkong Land, OCBC, Keppel Corp., OUE Ltd., Tuan Sing Holdings, Pan-United Corp., The Hour Glass, G.H.Y Culture & Media Holding, Valuetronics Holdings, Hong Fok Corp., G.K. Goh Holdings and Global Investments Ltd. 

Keppel Corp.

Keppel Corp. bought back 613,000 shares at S$6.08 to S$6.12 each for a total consideration, including other costs, of around S$3.75 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

OCBC

OCBC bought back 100,000 shares in the market at S$11.69 each for a total consideration, including other costs, of around S$1.17 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 300,000 shares in the market at US$5.04 to US$5.17 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$1.51 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.

OUE

OUE bought back 10,000 shares in the market at S$1.27 each for a total consideration, including other costs, of around S$12,719, the property developer said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 150,000 shares in the market at S$0.515 each for a total consideration, including other costs, of around S$77,435, the electronics manufacturing services company said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 96,900 shares in the market at S$1.99928 each for a total consideration, including other costs, of around S$194,228, the watch retailer said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 100,000 shares in the market at S$1.13 each for a total consideration, including other costs, of around S$113,290, the company said in a filing to SGX after the market close. The repurchased shares will be canceled, the filing said.

G.K. Goh Holdings is an investment company owning operating businesses and a portfolio of investments, including listed and unlisted equities, third-party managed funds and some non-controlling minority stakes. The company also acts as a co-investor for private-equity firms, family offices and insurance companies. It has invested in fiber optic networks in Europe, aged-care in Australia and a Japan REIT.

Pan-United Corp.

Pan-United Corp. bought back 240,000 shares in the market at S$0.347 each for a total consideration, including other costs, of around S$83,593, the concrete maker 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$0.15499 each for a total consideration, including other costs, of around S$77,553, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 10,700 shares in the market at S$0.43 each for a total consideration, including other costs, of around S$4,646, the company said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 9,600 shares in the market at S$0.73 each for a total consideration, including other costs, of around S$7,030, the property development and investment company said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 4,000 shares in the market at S$0.385 each for a total consideration, including other costs, of around S$1,584, the company said in a filing to SGX after the market close.

The company is involved in property development and real estate and hotel investments, with operations across Singapore, China, Indonesia and Australia. Tuan Sing Holdings also has an around 80 percent stake in Singapore-listed subsidiary SP Corp. and a 44.5 percent interest in printed circuit board maker Gul Technologies Singapore, according to the company website.

 

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