S$90 million in Share Buybacks for month of May
In the month of May, there were a total of 68,571,248 shares repurchased by 23 stocks, with a total consideration of S$90.4 million. This brings the year-to-date total consideration to S$446.2 million.
The five stocks with the largest consideration in buybacks in May were Oversea-Chinese Banking Corporation, OSIM International, DBS Group Holdings, Singapore Exchange, and Indofood Agri Resources.
Share buybacks in May increased from the same month last year, which saw a total of 29,267,965 shares purchased, with a total consideration of S$43.8 million.
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.
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