SG buybacks Wednesday: Hongkong Land, Hour Glass, Valuetronics, Eurosports

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Singapore companies announcing share buybacks on Wednesday, 20 April 2022: Hongkong Land, G.H.Y Culture & Media Holding, The Hour Glass, Valuetronics Holdings, Eurosports Global and Global Investments Ltd.

Hongkong Land

Hongkong Land bought back 393,600 shares in the market at US$4.77 to US$4.87 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$1.88 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.

The Hour Glass

The Hour Glass bought back 2.27 million shares in the market at S$2.40724 each for a total consideration, including other costs, of around S$5.48 million, the watch retailer 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.

Eurosports Global

Eurosports Global bought back 270,000 shares in the market at S$0.175 each for a total consideration, including other costs, of around S$47,523, 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.

Valuetronics

Valuetronics Holdings bought back 149,600 shares in the market at S$0.535 each for a total consideration, including other costs, of around S$80,148, the electronics manufacturing services company said in a filing to SGX after the market close.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 22,400 shares in the market at S$0.58 each for a total consideration, including other costs, of around S$13,041, the company said in a filing to SGX after the market close.

 

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