Jardine Matheson, the controlling shareholder of Jardine Cycle & Carriage, has bought 80,000 shares today in a married deal at the "prevailing market price", says the subsidiary company.
Jardine Cycle & Carriage, also a component stock of the Straits Times Index, was responding to a query from the Singapore Exchange for unusual trading activity earlier in the day of April 21.
"We understand that that purchase did not trigger any disclosure obligations by them, and hence, no disclosure was made. We do not believe the fact of this purchase is in and of itself material non-public information requiring disclosure by Jardine C&C," the company adds.
At market close today, Jardine C&C, part of the Jardine group of companies, was up 5.37% to close at $26.87, extending its year to date gain to 30.88%, valuing the company at just over $10 billion.
Jardine C&C is 75% held by Jardine Matheson, the key holding company of the Jardine group. Last April, the Jardine group streamlined its complex web of cross-holdings somewhat with the acquisition of Jardine Strategic by Jardine Matheson.
In Singapore, Jardine C&C is known for owning Cycle & Carriage, better known as the distributor of the Mercedes Benz brand of vehicles.
See also: Kingsmen Creatives acquires 10% stake of Kingsmen E&E for $395,000
However, its key business is its stake is its 50.1% stake in Astra, an Indonesia diversified business group that is known to be the largest independent automotive group in southeast Asia.
In addition, Jardine C&C holds 26.6% of THACO Corporation, 31.2% in Refrigeration Electrical Engineering Corporation and 10.6% in Vinamilk. These are leading companies in Vietnam.
Its 25.5%-owned Siam City Cement also has a presence in South Vietnam.
