Companies are taking advantage of lower stock prices to step up their share buybacks, data from Singapore Exchange shows.
About 258.3 million shares worth $314.1 million were snapped up by 46 listed firms from Sept 1 to 18. This far exceeds purchases in the same period a year earlier when 44.6 million shares worth $37.2 million were bought.
The big spenders were Sinarmas Land, Wilmar International, Global Logistic Properties, CapitaLand and DBS Group.
Sinarmas Land spent $88.5 million to buy back 149.8 million shares, representing 4.92% of its issued shares (excluding treasury shares) as at the date of its share buyback mandate on April 24. Its shares closed 1.7% lower at 59 centson Monday.
Wilmar bought 22.4 million shares for $59.9 million in the first 18 days of this month. The palm oil processor has bought nearly 61 million shares since it exercised its buyback mandate on April 24. Its shares closed one cent higher at $2.66.
Global Logistic snapped up about 26 million shares for $53.3 million. Its shares closed four cents higher at $2.05.
CapitaLand spent $32.1 million to buy back 11.4 million shares. Its shares closed two cents higher at $2.80.
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About 258.3 million shares worth $314.1 million were snapped up by 46 listed firms from Sept 1 to 18. This far exceeds purchases in the same period a year earlier when 44.6 million shares worth $37.2 million were bought.
The big spenders were Sinarmas Land, Wilmar International, Global Logistic Properties, CapitaLand and DBS Group.
Sinarmas Land spent $88.5 million to buy back 149.8 million shares, representing 4.92% of its issued shares (excluding treasury shares) as at the date of its share buyback mandate on April 24. Its shares closed 1.7% lower at 59 centson Monday.
Wilmar bought 22.4 million shares for $59.9 million in the first 18 days of this month. The palm oil processor has bought nearly 61 million shares since it exercised its buyback mandate on April 24. Its shares closed one cent higher at $2.66.
Global Logistic snapped up about 26 million shares for $53.3 million. Its shares closed four cents higher at $2.05.
CapitaLand spent $32.1 million to buy back 11.4 million shares. Its shares closed two cents higher at $2.80.
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