SG buybacks Thursday: OCBC, HK Land, Valutronics, Hong Fok, OUE, Cosmosteel

OCBC Bank and UOB ATMs with SAM and AXS machinesOCBC Bank and UOB ATMs with SAM and AXS machines; taken October 2021

Singapore companies announcing share buybacks on Thursday, 7 April 2022: Hongkong Land, OCBC, OUE Ltd., G.H.Y Culture & Media Holding, Valuetronics Holdings, ST Group Food Industries Holdings, Cosmosteel Holdings, Eurosports Global, Hong Fok Corp. and Global Investments Ltd. 

OCBC

OCBC bought back 100,000 shares in the market at S$12.28 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$4.99 to US$5.07 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$1.50 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 170,000 shares in the market at S$0.885 to S$0.89 each for a total consideration, including other costs, of around S$151,168, the property development and investment company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 1.067 million shares in the market at S$0.16 to S$0.165 each for a total consideration, including other costs, of around S$173,969, 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.

Valuetronics

Valuetronics Holdings bought back 152,100 shares in the market at S$0.54 each for a total consideration, including other costs, of around S$82,249, the electronics manufacturing services company 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.

Global Investments

Global Investments Ltd. bought back 500,000 shares in the market at S$0.15668 each for a total consideration, including other costs, of around S$78,399, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 43,900 shares in the market at S$0.51593 each for a total consideration, including other costs, of around S$22,702, 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$0.168 each for a total consideration, including other costs, of around S$21,122, 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.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 50,000 shares in the market at S$0.117 each for a total consideration, including other costs, of around S$5,880, 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.

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