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Markets & Investing

Staff Reporter

, Singapore

Published:

5 months ago

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Photo by Cytonn Photography via Pexels.

Jardine Matheson buys more shares in Jardine Cycle & Carriage

It acquired 444,900 shares at $27.0006 apiece.

Jardine Matheson Holdings Limited, through its investment holding arm Jardine Strategic Singapore (JSS), bought additional shares from Jardine Cycle & Carriage (Jardine C&C).

In a regulatory filing, Jardine C&C said JSS bought 444,900 shares at $27.0006 per share on 12 June.

The purchase increased JSS' stake from 323.6m shares to 324.1m shares, which is around 82% of Jardine C&C’s stocks.

Before this, JSS has also made purchases totaling around 5m shares since January.

The largest acquisition was on 31 May when it bought 4.37m shares at $25.75 apiece.

Jardine Matheson expects its 2024 underlying profits to be "modestly" lower than in 2023 amidst current market conditions.

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