SG buybacks Monday: OCBC, Hongkong Land, OUE, Raffles Medical, Hong Fok

The OUE Bayfront building in Signapore’s central business district. Credit: Shenton WireThe OUE Bayfront building in Signapore’s central business district. Credit: Shenton Wire

Singapore companies announcing share buybacks on Monday, 4 April 2022: OCBC, Hongkong Land, Cosmosteel Holdings, OUE Ltd., Hong Fok Corp., ISOTeam, Raffles Medical Group, Eurosports Global and Global Investments Ltd. 

OCBC

OCBC bought back 100,000 shares in the market at S$12.33 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 245,900 shares in the market at US$5.03 to US$5.14 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$1.24 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 183,500 shares in the market at S$1.16 each for a total consideration, including other costs, of around S$213,179, the hospital operator said in a filing to SGX after the market close.

OUE

OUE bought back 20,000 shares in the market at S$1.315 each for a total consideration, including other costs, of around S$26,339, the property developer said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 288,700 shares in the market at S$0.875 to S$0.88 each for a total consideration, including other costs, of around S$254,399, the property development and investment 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$0.15715 each for a total consideration, including other costs, of around S$78,634, 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 800,000 shares in the market at S$0.16 to S$0.162 each for a total consideration, including other costs, of around S$129,794, 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.

ISOTeam

ISOTeam bought back 480,100 shares in the market at S$0.131 each for a total consideration, including other costs, of around S$63,055, the facilities maintenance company said in a filing to SGX after the market close.

Eurosports Global

Eurosports Global bought back 98,500 shares in the market at S$0.16668 each for a total consideration, including other costs, of around S$16,513, 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.

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