SG buybacks Monday: Singtel, Keppel, OCBC, Boustead, Hour Glass, Raffles Medical

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Singapore companies announcing share buybacks on Monday, 30 May 2022: Singtel, Keppel Corp., OCBC, Boustead Singapore, Hongkong Land, Global Investments Ltd., Cosmosteel Holdings, G.H.Y Culture & Media Holding, Raffles Medical Group, G.K. Goh Holdings, The Hour Glass, OUE Ltd., Nordic Group and Sarine Technologies.

OCBC

OCBC bought back 300,000 shares in the market at S$11.73 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.

Keppel Corp.

Keppel Corp. bought back 375,000 shares at S$6.78 to S$6.82 each for a total consideration, including other costs, of around S$2.55 million, the property-to-energy-to-infrastructure conglomerate said in a filing to SGX after the market close.

Singtel

Singtel bought back 1.161 million shares in the market at S$2.64 to S$2.68 each for a total consideration, including other costs, of around S$3.09 million, the regional telco said in a filing to SGX after the market close.

The Hour Glass

The Hour Glass bought back 1.639 million shares in the market at S$2.39687 each for a total consideration, including other costs, of around S$3.94 million, the watch retailer said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 593,000 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 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.

Raffles Medical Group

Raffles Medical Group bought back 400,000 shares in the market at S$1.15 each for a total consideration, including other costs, of around S$460,689, the hospital operator said in a filing to SGX after the market close.

Boustead Singapore

Boustead Singapore bought back 58,100 shares in the market at S$0.95 each for a total consideration, including other costs, of around S$55,308, the company said in a filing to SGX after the market close.

The company, founded in 1828 as a commodity-trading firm, is an engineering services group, specialising in energy-related engineering, water and waste-water engineering and industrial real-estate services.

Nordic Group

Nordic Group bought back 231,200 shares in the market at S$0.42 to S$0.425 each for a total consideration, including other costs, of around S$98,428, the engineering services and maintenance company said in a filing to SGX after the market close.

OUE

OUE bought back 17,400 shares in the market at S$1.3129 each for a total consideration, including other costs, of around S$22,879, 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$0.15364 each for a total consideration, including other costs, of around S$76,878, 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.

Cosmosteel Holdings

Cosmosteel Holdings bought back 150,000 shares in the market at S$0.143 to S$0.144 each for a total consideration, including other costs, of around S$21,675, 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.

G.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 30,000 shares in the market at S$0.545 each for a total consideration, including other costs, of around S$16,400, the company said in a filing to SGX after the market close.

Sarine Technologies

Sarine Technologies bought back 20,000 shares in the market at S$0.445 to S$0.45 each for a total consideration, including other costs, of around S$8,926, 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.

In addition, the company said that on Friday, it bought back 25,000 shares at S$0.45 to S$0.455 each for a total consideration, including other costs, of around S$11,380.

G.K. Goh Holdings

G.K. Goh Holdings bought back 2,000 shares in the market at S$0.915 each for a total consideration, including other costs, of around S$1,874, 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.