For the fourth week of the month from 20 April to 24 April, there were a total of 20,023,700 shares repurchased by 10 stocks, with a total consideration of S$5.4 million. This brings the month-to-date total consideration to S$51.7 million.
The five stocks with the largest consideration in buybacks last week were OSIM International, USP Group, Hotung Investment Holdings, FSL Trust Management and BreadTalk Group.
As many companies approach their reporting date for 1Q15, last week’s buyback consideration was below the weekly average for the first quarter.
Share buyback is a simple strategy where a share issuer repurchases some of its outstanding shares from shareholders through open market transactions. Once the shares are bought back, they will be converted into treasury shares, which means they are no longer categorised as shares outstanding. Motivations for share buybacks include companies trying to align stock valuations with balance sheet objectives or employee compensation changes.
Share buyback information can be found on the company disclosure page on the SGX website using the Announcement category and sub category of Share Buy Back-On Market.
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