SG buybacks Tuesday: Hongkong Land, Valuetronics, Raffles Medical, Global Palm

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 Tuesday, 19 April 2022: Hongkong Land, Valuetronics Holdings, Eurosports Global, Raffles Medical Group, Global Palm Resources Holdings and Global Investments Ltd. 

Hongkong Land

On Monday, Hongkong Land bought back 300,000 shares in the market at US$4.76 to US$4.84 each, Jardine Matheson said in a notification filed to the U.K.’s Financial Conduct Authority and SGX on behalf of the company on Tuesday. A back-of-the-envelope calculation suggests the buyback was valued at least at US$1.43 million.

A separate filing Tuesday said Hongkong Land bought back 815,600 shares in the market Tuesday at US$4.79 to US$4.90 each.  A back-of-the-envelope calculation suggests the buyback was valued at least at US$3.91 million.

The repurchased shares will be cancelled, the filings said.

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.

Raffles Medical Group

Raffles Medical Group bought back 1 million shares in the market at S$1.19 to S$1.20 each for a total consideration, including other costs, of around S$1.20 million, 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$0.15796 each for a total consideration, including other costs, of around S$79,040, 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.

Valuetronics

Valuetronics Holdings bought back 100,000 shares in the market at S$0.535 each for a total consideration, including other costs, of around S$53,575, the electronics manufacturing services company said in a filing to SGX after the market close.

Eurosports Global

Eurosports Global bought back 225,000 shares in the market at S$0.177333 each for a total consideration, including other costs, of around S$39,225, 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.

Global Palm Resources

Global Palm Resources Holdings bought back 45,000 shares in the market at S$0.215 each for a total consideration, including other costs, of around S$9,706, the palm oil producer said in a filing to SGX after the market close.