SG buybacks Thursday: Hongkong Land, Raffles Medical, Hong Fok, Alliance Healthcare

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 Thursday, 14 April 2022: Hongkong Land, Raffles Medical Group, Hong Fok Corp., Global Investments Ltd., and Alliance Healthcare Group. 

Hongkong Land

Hongkong Land bought back 567,000 shares in the market at US$4.85 to US$4.92 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$2.75 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 405,700 shares in the market at S$0.90 each for a total consideration, including other costs, of around S$366,263, the property development and investment company said in a filing to SGX after the market close.

Raffles Medical Group

Raffles Medical Group bought back 160,000 shares in the market at S$1.19 each for a total consideration, including other costs, of around S$190,685, the hospital operator 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$0.1576 each for a total consideration, including other costs, of around S$78,859, 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 100,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$17,536, 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.

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