SG buybacks Tuesday: OCBC, OUE, HK Land, Alliance Healthcare, ST Group Food, Valuetronics

The OUE Downtown 2 building in Singapore’s Central Business District. Credit: Shenton WireThe OUE Downtown 2 building in Singapore’s Central Business District. Credit: Shenton Wire

Singapore companies announcing share buybacks on Tuesday, 29 March 2022: OCBC, OUE Ltd., Hongkong Land, Eurosports Global, Alliance Healthcare Group, Tuan Sing Holdings, Valuetronics Holdings, ST Group Food Industries Holdings and Global Investments Ltd.

OCBC

OCBC bought back 100,000 shares in the market at S$12.37 each for a total consideration, including other costs, of around S$1.24 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$4.98 to US$5.10 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$1.49 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 41,400 shares in the market at S$1.3193 each for a total consideration, including other costs, of around S$54,701, the property developer said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 168,700 shares in the market at S$0.535 each for a total consideration, including other costs, of around S$90,471, the electronics manufacturing services company said in a filing to SGX after the market close.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 50,000 shares in the market at S$0.118 each for a total consideration, including other costs, of around S$5,930, the company said in a filing to SGX after the market close.

The Australia-based company holds franchise and license rights to nine brands, including PappaRich, NeNe Chicken, Gong Cha, Pafu, Kurimu Japanese Cream Choux, Hokkaido Baked Cheese Tart, IPPUDO and iDarts Australia. The group operates around 133 outlets across Australia, Malaysia, New Zealand and the United Kingdom.

Alliance Healthcare Group

Alliance Healthcare Group bought back 100,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$17,536, the healthcare company said in a filing to SGX before the market open.

In addition, Alliance Healthcare Group bought back 60,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$10,521, the healthcare company said in a filing to SGX after the market close.

The company offers medical benefit outsourcing, general practitioner and specialist clinic services and pharmaceutical services.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15528 each for a total consideration, including other costs, of around S$77,699, 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.

Eurosports Global

Eurosports Global bought back 25,000 shares in the market at S$0.168 each for a total consideration, including other costs, of around S$4,245, the company said in a filing to SGX after the market close.

The company distributes luxury automobiles and after-sales services for Lamborghini and Alfa Romeo in Singapore, and for Touring Superleggera in Singapore, Malaysia, Brunei and Indonesia, according to its website.

Tuan Sing Holdings

Tuan Sing Holdings bought back 6,000 shares in the market at S$0.405 to S$0.415 each for a total consideration, including other costs, of around S$2,504, 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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