SG buybacks Wednesday: OCBC, Hongkong Land, OUE, Alliance Healthcare, Hour Glass

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 Wednesday, 6 April 2022: OCBC, Hongkong Land, OUE Ltd., Eurosports Global, ISOTeam, Valuetronics Holdings, The Hour Glass, Hong Fok Corp., Cosmosteel Holdings, Alliance Healthcare Group and Global Investments.

OCBC

OCBC bought back 100,000 shares in the market at S$12.34 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 196,000 shares in the market at US$5.13 to US$5.22 each on Tuesday, Jardine Matheson said Wednesday 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$1.01 million.

Separately, Hongkong Land bought back 300,000 shares in the market at US$5.08 to US$5.18 each on Wednesday, Jardine Matheson said Wednesday 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$1.52 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.

Hong Fok Corp.

Hong Fok Corp. bought back 695,000 shares in the market at S$0.885 to S$0.89 each for a total consideration, including other costs, of around S$617,737, the property development and investment company said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 130,000 shares in the market at S$2.34426 each for a total consideration, including other costs, of around S$305,537, the watch retailer said in a filing to SGX after the market close.

OUE

OUE bought back 40,000 shares in the market at S$1.33 each for a total consideration, including other costs, of around S$53,280, 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$0.54 each for a total consideration, including other costs, of around S$81,113, the electronics manufacturing services company said in a filing to SGX after the market close.

ISOTeam

ISOTeam bought back 100,000 shares in the market at S$0.131 to S$0.132 each for a total consideration, including other costs, of around S$13,199, the facilities maintenance company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 250,000 shares in the market at S$0.165 each for a total consideration, including other costs, of around S$41,489, 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.1572 each for a total consideration, including other costs, of around S$78,659, 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.

Alliance Healthcare Group

Alliance Healthcare Group bought back 70,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$12,275, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 73,000 shares in the market at S$0.51897 each for a total consideration, including other costs, of around S$37,962, the company said in a filing to SGX after the market close.

Eurosports Global

Eurosports Global bought back 125,000 shares in the market at S$0.1682 each for a total consideration, including other costs, of around S$21,147, 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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