SG buybacks Friday: Keppel, OCBC, HK Land, China Sunsine Chemical, OUE

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Singapore companies announcing share buybacks on Friday, 20 May 2022: Keppel Corp., OCBC, Hongkong Land, China Sunsine Chemical Holdings, OUE Ltd., G.K. Goh Holdings, Cosmosteel Holdings and Global Investment Ltd.

Keppel Corp.

Keppel Corp. bought back 980,000 shares at S$6.77 to S$6.83 each for a total consideration, including other costs, of around S$6.68 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

OCBC

OCBC bought back 300,000 shares in the market at S$11.72 each for a total consideration, including other costs, of around S$3.52 million, the bank said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 585,000 shares in the market at US$4.70 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. The repurchased shares will be cancelled, the filing said.

A back-of-the-envelope calculation suggests the buyback was valued at least at around 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.

OUE

OUE bought back 43,000 shares in the market at S$1.306 each for a total consideration, including other costs, of around S$56,242, the property developer 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$0.15237 each for a total consideration, including other costs, of around S$76,242, 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.

G.K. Goh Holdings

G.K. Goh Holdings bought back 57,000 shares in the market at S$0.92 each for a total consideration, including other costs, of around S$52,575, the company said in a filing to SGX after the market close. The repurchased shares will be canceled, the filing said.

G.K. Goh Holdings is an investment company owning operating businesses and a portfolio of investments, including listed and unlisted equities, third-party managed funds and some non-controlling minority stakes. The company also acts as a co-investor for private-equity firms, family offices and insurance companies. It has invested in fiber optic networks in Europe, aged-care in Australia and a Japan REIT.

China Sunsine Chemical Holdings

China Sunsine Chemical Holdings bought back 25,000 shares in the market at S$0.445 to S$0.45 each for a total consideration, including other costs, of around S$11,182, the specialty rubber chemicals producer said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 100,000 shares in the market at S$0.148 each for a total consideration, including other costs, of around S$14,886, the company said in a filing to SGX after the market close.

The company is a supplier and distributor of piping system components for the energy, marine and other industries in Southeast Asia.