SG buybacks Wednesday: Keppel, Wilmar, HK Land, Hong Fok, China Sunsine Chemical

Palm fruit bunches. Photo by Mike Stezycki on UnsplashPalm fruit bunches. Photo by Mike Stezycki on Unsplash

Singapore companies announcing share buybacks on Wednesday, 25 May 2022: Keppel Corp., Wilmar International, Hongkong Land, SHS Holdings, Cosmosteel Holdings, Global Investments Ltd., Hong Fok Corp., G.H.Y Culture & Media Holding, OUE Ltd., China Sunsine Chemical Holdings and Sarine Technologies.

Keppel Corp.

Keppel Corp. bought back 654,000 shares at S$6.74 to S$6.79 each for a total consideration, including other costs, of around S$4.44 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Wilmar International

Wilmar International bought back 431,800 shares in the market at S$4.10 each for a total consideration, including other costs, of around S$1.77 million, the agri-business company said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 475,800 shares in the market at US$4.64 to US$4.72 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$2.21 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.

SHS Holdings

SHS Holdings bought back 2.5 million shares in the market at S$0.155 each for a total consideration, including other costs, of around S$388,703, the construction engineering company said in a filing to SGX after the market close.

Cosmosteel Holdings

Cosmosteel Holdings bought back 2,309,700 shares in the market at S$0.147 to S$0.148 each for a total consideration, including other costs, of around S$342,433, 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.

Hong Fok Corp.

Hong Fok Corp. bought back 250,000 shares in the market at S$0.915 each for a total consideration, including other costs, of around S$229,460, the property development and investment company 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$0.153 each for a total consideration, including other costs, of around S$76,558, 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.

OUE

OUE bought back 25,000 shares in the market at S$1.31 each for a total consideration, including other costs, of around S$32,799, the property developer said in a filing to SGX after the market close.

China Sunsine Chemical Holdings

China Sunsine Chemical Holdings bought back 65,000 shares in the market at S$0.44 each for a total consideration, including other costs, of around S$28,659, the specialty rubber chemicals producer said in a filing to SGX after the market close.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 27,000 shares in the market at S$0.545 each for a total consideration, including other costs, of around S$14,764, the company said in a filing to SGX after the market close.

Sarine Technologies

Sarine Technologies bought back 15,000 shares in the market at S$0.45 to S$0.46 each for a total consideration, including other costs, of around S$6,780, the company said in a filing to SGX after the market close. The company develops and sells technologies for the diamond industry, including for grading rough and polished diamonds.