Wednesday, November 12, 2014

Share buybacks almost reach S$100 million in Oct !

  • For the month of October, there were a total of 112,318,000 shares repurchased by 29 stocks with a total consideration of close to S$100 million.
  • Among these 29 stocks, four stocks are constituent stocks of the STI – Oversea-Chinese Banking Corporation, Sembcorp Industries, Singapore Airlines and Wilmar International.
  • The five stocks with the highest total buyback considerations in dollar terms over October were Singapore Airlines, Wilmar International, Pacific Century Regional Developments, Lian Beng Group and Hyflux. Combined these five stocks spent S$65 million repurchasing their stocks.
Share buybacks a simple process where a share issuer repurchases some of their outstanding shares from shareholders through open market transactions. This can be for a number of reasons.

Some examples are that a company may have surplus cash after taking into account of its ordinary capital requirements and financing for possible projects or it may wish to enhance the return on equity of the company. Additionally, if the company has an employee share option policy, it can also have more flexibility through share buyback to issue and allocate shares based on the share options that are exercised.

Once shares are bought back they will be converted into treasury shares which means that are no longer categorised as shares outstanding. Share buy-back information can be found on the company disclosure pageon the SGX website using the Announcement category and sub category of Share Buy Back-On Market.
For the month of October, there were a total of 112,318,000 shares repurchased by 29 stocks with a total consideration of S$96.6 million. Among these 29 stocks, four stocks were constituent stocks of the Straits Times Index (STI) – Oversea-Chinese Banking Corporation, Sembcorp Industries, Singapore Airlines and Wilmar International.

The table below details the specifics of the buybacks by these 29 stocks. The table is sort by the total consideration amount of October which collates the amount of shares purchased and the purchasing price of the shares. The date of the relevant share buyback mandate is also provided  in addition to the amount of shares authorized to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies issued shares that have been repurchased under the mandate are also provided. Source: SGX
Source: SGX

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