On Sept 21, the Hong Kong-based but Singapore-listed developer paid between US$4.36 and US$4.44 for 308,400 shares.
On Sept 20, the company bought back 800,000 shares at between US$4.31 and US$4.50.
On Sept 17, it paid between US$4.48 and US$4.54 for 626,500 shares.
The first buyback was made on Sept 7, when it paid an average of US$4.6712 for 320,000 shares.
Thus far, it has bought back 2,054,900 shares, at prices ranging from US$4.31 to US$4.54.
The share buyback was announced on Sept 6 and will last till Dec 31 2022.
The company has a net asset value of US$14.75 as at June 30, down slightly from US$15.30 as at June 30 2020.
For 1HFY2021 ended June 30, the company, having taken a write down in the fair value of its properties, reported a loss of US$865 million, an improvement from US$1.8 billion in the red from the year earlier period.
Without the writedown, the company’s underlying earnings for the same period would be US$394 million, up 12% y-o-y from US$353 million.
Despite the losses, Hongkong is paying an interim dividend of 6 US cents per share – the same amount paid this time last year.
Hongkong Land shares closed Sept 21 at US$4.40. It was trading at a recent high of US$4.85 following the share buyback announcement.
