SG buybacks Friday: Hongkong Land buys 900,000 shares; OCBC, OUE, Valuetronics

The entrance to Two Exchange Square in the central business district in Hong Kong; the property is part of Hongkong Land's investment portfolio. The HKEx headquarters is located there. Photo by Cheung Yin on UnsplashThe entrance to Two Exchange Square in the central business district in Hong Kong; the property is part of Hongkong Land's investment portfolio. The HKEx headquarters is located there. Photo by Cheung Yin on Unsplash

Singapore companies announcing share buybacks on Friday, 8 April 2022: Hongkong Land, OCBC, OUE Ltd., ST Group Food Industries Holdings, Valuetronics Holdings, Alliance Healthcare Group, Hong Fok Corp., Cosmosteel Holdings and Global Investments Ltd. 

Hongkong Land

Hongkong Land bought back 900,000 shares in the market at US$4.94 to US$5.01 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$4.45 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.

OCBC

OCBC bought back 100,000 shares in the market at S$12.21 each for a total consideration, including other costs, of around S$1.22 million, the bank said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 754,000 shares in the market at S$0.885 to S$0.895 each for a total consideration, including other costs, of around S$674,625, the property development and investment company said in a filing to SGX after the market close.

OUE

OUE bought back 30,000 shares in the market at S$1.33 each for a total consideration, including other costs, of around S$39,960, the property developer said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 1,028,700 shares in the market at S$0.158 to S$0.165 each for a total consideration, including other costs, of around S$165,309, 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 150,000 shares in the market at S$0.5425 each for a total consideration, including other costs, of around S$81,489, the electronics manufacturing services 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$0.157 each for a total consideration, including other costs, of around S$78,559, 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.

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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