Singapore companies announcing share buybacks on Tuesday, 26 April 2022: Hongkong Land, iFAST Corp., Tuan Sing Holdings, Alliance Healthcare Group and Global Investments Ltd.
IFAST Corp. bought back 400,000 shares in the market at S$4.89 to S$5.05 each for a total consideration, including other costs, of around S$1.99 million, the wealth management fintech said in a filing to SGX after the market close.
Hongkong Land bought back 300,000 shares in the market at US$4.646 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$1.39 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.
Global Investments Ltd. bought back 500,000 shares in the market at S$0.158 each for a total consideration, including other costs, of around S$79,060, 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 50,000 shares in the market at S$0.173 each for a total consideration, including other costs, of around S$8,668, 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.
Tuan Sing Holdings
Tuan Sing Holdings bought back 6,000 shares in the market at S$0.405 each for a total consideration, including other costs, of around S$2,474, 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.