SG buybacks Tuesday: Singtel, Keppel, OCBC, Silverlake Axis, Hour Glass, Valuetronics

Singtel retail outlet at Tiong Bahru PlazaSingtel retail outlet at Tiong Bahru Plaza; photo taken pre-Covid

Singapore companies announcing share buybacks on Tuesday, 31 May 2022: Keppel Corp., Singtel, OCBC, Hongkong Land, OUE Ltd., Silverlake Axis, Global Investments Ltd., G.H.Y Culture & Media Holding, Hong Fok Corp., The Hour Glass, Wing Tai Holdings, G.K. Goh Holdings, and Valuetronics Holdings.

Keppel Corp.

Keppel Corp. bought back 717,000 shares at S$6.79 to S$6.88 each for a total consideration, including other costs, of around S$4.91 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$2.63 to S$2.65 each for a total consideration, including other costs, of around S$3.06 million, the regional telco said in a filing to SGX after the market close.

OCBC

OCBC bought back 300,000 shares in the market at S$11.86 each for a total consideration, including other costs, of around S$3.56 million, the bank said in a filing to SGX after the market close.

Silverlake Axis

Silverlake Axis bought back 170,230,988 shares in the market at S$0.33 each for a total consideration, including other costs, of around S$56.18 million, the banking software developer said in a filing to SGX before the market open. The shares were purchased in an off-market transaction on 27 May, the filing said.

The Hour Glass

The Hour Glass bought back 1.543 million shares in the market at S$2.37194 each for a total consideration, including other costs, of around S$3.67 million, the watch retailer said in a filing to SGX after the market close.

Hongkong Land

Hongkong Land bought back 619,000 shares in the market at US$4.60 to US$4.67 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$2.85 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.

Wing Tai Holdings

Wing Tai Holdings bought back 343,500 shares in the market at S$1.77892 each for a total consideration, including other costs, of around S$612,302, the property developer said in a filing to SGX after the market close.

Hong Fok Corp.

Hong Fok Corp. bought back 450,000 shares in the market at S$0.945 each for a total consideration, including other costs, of around S$426,570, the property development and investment company said in a filing to SGX after the market close.

Valuetronics

Valuetronics Holdings bought back 150,000 shares in the market at S$0.53 each for a total consideration, including other costs, of around S$79,611, the electronics manufacturing services company said in a filing to SGX after the market close.

OUE

OUE bought back 23,300 shares in the market at S$1.317 each for a total consideration, including other costs, of around S$30,732, 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$0.1535 each for a total consideration, including other costs, of around S$76,808, 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.H.Y Culture & Media Holding

G.H.Y Culture & Media Holding bought back 13,000 shares in the market at S$0.54 each for a total consideration, including other costs, of around S$7,066, the company said in a filing to SGX after the market close.

G.K. Goh Holdings

G.K. Goh Holdings bought back 10,000 shares in the market at S$0.92 each for a total consideration, including other costs, of around S$9,247, 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.