SG buybacks Thursday: OCBC, Hongkong Land, ISOTeam, Raffles Medical, Cosmosteel

OCBC Bank outlet in Johor Bahru in MalaysiaOCBC Bank outlet in Johor Bahru in Malaysia

Singapore companies announcing share buybacks on Thursday, 24 March 2022: OCBC, Hongkong Land, Tuan Sing Holdings, ISOTeam, G.H.Y Culture & Media Holding, Cosmosteel Holdings, Raffles Medical Group and Global Investments Ltd. 

OCBC

OCBC bought back 100,000 shares in the market at S$12.31 each for a total consideration, including other costs, of around S$1.23 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$4.91 to US$4.97 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$1.47 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 407,100 shares in the market at S$1.16 each for a total consideration, including other costs, of around S$472,943, the hospital operator 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$0.1538 each for a total consideration, including other costs, of around S$76,958, 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.

ISOTeam

ISOTeam bought back 160,400 shares in the market at S$0.103 each for a total consideration, including other costs, of around S$16,571, the facilities maintenance company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 195,800 shares in the market at S$0.138 each for a total consideration, including other costs, of around S$27,177, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 5,600 shares in the market at S$0.47 each for a total consideration, including other costs, of around S$2,676, the company said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 12,000 shares in the market at S$0.405 to S$0.41 each for a total consideration, including other costs, of around S$4,955, 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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