Companies listed in Singapore bought back around $2 billion of their own shares in 2015, according to data from the Singapore Exchange, with the banks among the biggest buyers of their stock.
The SGX My Gateway report complied by the bourse does not provide previous year-on-year comparisons, but the $2 billion is likely a high figure, with share buybacks featuring heavily throughout 2015 as companies look to take advantage of perceived low valuations.
Singapore's main stock index was one of Asia's worst performers last year, down 14.3%.
United Overseas Bank, PEC, DBS Group Holdings, Oversea-Chinese Banking Corp. and Pacific Century Regional Developments were the biggest buyers of their own shares in 2015, respectively, by total consideration.
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The SGX My Gateway report complied by the bourse does not provide previous year-on-year comparisons, but the $2 billion is likely a high figure, with share buybacks featuring heavily throughout 2015 as companies look to take advantage of perceived low valuations.
Singapore's main stock index was one of Asia's worst performers last year, down 14.3%.
United Overseas Bank, PEC, DBS Group Holdings, Oversea-Chinese Banking Corp. and Pacific Century Regional Developments were the biggest buyers of their own shares in 2015, respectively, by total consideration.
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