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

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Singapore companies announcing share buybacks on Monday, 21 March 2022: Hongkong Land, OUE Ltd., Valuetronics Holdings, The Hour Glass, OCBC, Raffles Medical Group, Global Investments Ltd. and Cosmosteel Holdings.

OCBC

OCBC bought back 100,000 shares in the market at S$12.12 each for a total consideration, including other costs, of around S$1.21 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 182,900 shares in the market at US$4.89 to US$4.98 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$894,381.

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 600,000 shares in the market at S$1.15 each for a total consideration, including other costs, of around S$691,034, the hospital operator said in a filing to SGX after the market close.

OUE

OUE bought back 10,000 shares in the market at S$1.29 each for a total consideration, including other costs, of around S$12,919, the property developer said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 16,900 shares in the market at S$2.19 each for a total consideration, including other costs, of around S$37,106, the watch retailer said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 150,000 shares in the market at S$0.52 each for a total consideration, including other costs, of around S$78,187, 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$0.15594 each for a total consideration, including other costs, of around S$78,029, 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.

Cosmosteel Holdings

Cosmosteel Holdings bought back 166,000 shares in the market at S$0.129 each for a total consideration, including other costs, of around S$21,538, the company said in a filing to SGX after the market close.

The company is a supplier and distributor of piping system components for the energy, marine and other industries in Southeast Asia.