SG buybacks Tuesday: Hongkong Land, OCBC, OUE, Hour Glass, Raffles Medical

The OUE Downtown building in Singapore’s central business district. Credit: Shenton WireThe OUE Downtown building in Singapore’s central business district. Credit: Shenton Wire

Singapore companies announcing share buybacks on Tuesday, 12 April 2022: Hongkong Land, OCBC, OUE Ltd., Tuan Sing Holdings, The Hour Glass, Valuetronics Holdings, ST Group Food Industries Holdings, Global Investments Ltd., Raffles Medical Group and CSC Holdings. 

OCBC

OCBC bought back 100,000 shares in the market at S$12.02 each for a total consideration, including other costs, of around S$1.20 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 215,400 shares in the market at US$4.88 to US$4.93 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$1.05 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 40,000 shares in the market at S$1.3225 each for a total consideration, including other costs, of around S$52,979, the property developer said in a filing to SGX after the market close.

Raffles Medical Group

Raffles Medical Group bought back 140,000 shares in the market at S$1.16 each for a total consideration, including other costs, of around S$162,643, the hospital operator said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 91,000 shares in the market at S$2.3133 each for a total consideration, including other costs, of around S$211,051, the watch retailer said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 50,000 shares in the market at S$0.535 each for a total consideration, including other costs, of around S$26,791, 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.

CSC Holdings

CSC Holdings bought back 2 million shares in the market at S$0.014 each for a total consideration, including other costs, of around S$28,087, the company said in a filing to SGX after the market close.

Tuan Sing Holdings

Tuan Sing Holdings bought back 3,000 shares in the market at S$0.415 each for a total consideration, including other costs, of around S$1,289, 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.

ST Group Food Industries Holdings

ST Group Food Industries Holdings bought back 30,100 shares in the market at S$0.118 each for a total consideration, including other costs, of around S$3,580, 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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