SGX Market Updates

16 Companies Stocks Bought Back S$30 Million in Shares in January


PUBLISHED ON |

05 February 2020

  • In the month of Jan 2020, 16 SGX primary-listed stocks bought back 37 million shares for a total consideration of S$30 million. This was down from S$70 million in consideration for Dec 2019, and similar to the S$26 million filed for Jan 2019.

  • The Jan buyback consideration tally was led by OCBC, Sembcorp Industries, Silverlake Axis, ST Engineering, Stamford Land . As of 3 Feb, Stamford Land had bought back 4.13% of its issued shares from the date of its current buyback mandate.

  • Buybacks conducted by STI stocks made up two-thirds of the S$590 million total consideration in 2019. In January 2020, five STI stocks again made up just over two-thirds of the S$30 million, with Singapore Exchange and Singapore Press Holdings also contributing to Jan’s buyback consideration.




Total share buyback consideration for month of January 2020 totaled S$29.9 million, down from the $70.1 million in consideration reported for December 2019 (click here for more details). The January 2020 buyback consideration was similar to the S$26.4 million reported for January 2019.

During the month of January 2020, the Straits Times Index (“STI”) declined 2.1%. This followed a total return of 9.4% in 2019, as detailed in a Market Update last month (click here for more).



Monthly Buybacks and STI Moves (Jan 2020)



Share buyback transactions involve share issuers repurchasing some of their outstanding shares from shareholders through the open market. Once the shares are bought back, they can be converted into treasury shares, which means they are no longer categorised as shares outstanding. Motivations for share buybacks can include employee compensation plans (such as share option schemes or employee share purchase plans) or long term capital management.



January 2020 Buybacks at S$30 Million

The table below summarises the buyback considerations in January 2020. The table is sorted by the value of the total consideration amount for the month, which combines the amount of shares or units purchased and the purchasing price of the transactions.

Stocks that Conducted buybacks
in January 2020
Max of Number
of Shares/units
Authorised for
Purchase in
Current Mandate
Sum of Total
Number of
Shares/units
Purchased
Sum of Total
Buyback Consideration
(including stamp duties,
clearing changes etc.)
paid or payable
for the shares
Max of
Cumulative
Number of
Shares/units
purchased in
Mandate to date*
OVERSEA-CHINESE BANKING CORPORATION 212,257,935 750,000 $8,247,181 11,080,000
SEMBCORP INDUSTRIES 35,739,673 2,868,000 $6,604,138 4,598,100
SILVERLAKE AXIS 264,505,273 13,111,500 $5,212,403 21,112,900
SINGAPORE TECHNOLOGIES ENGINEERING 62,432,801 800,000 $3,205,350 7,299,100
STAMFORD LAND CORPORATION 81,973,408 4,228,600 $2,113,953 32,817,100
SINGAPORE EXCHANGE 107,164,240 210,400 $1,840,592 210,400
GLOBAL INVESTMENTS 168,741,864 6,322,700 $901,712 71,357,500
SINGAPORE PRESS HOLDINGS 159,456,338 300,000 $609,457 300,000
STRACO CORPORATION 86,411,428 540,000 $362,829 1,974,700
SINGAPORE SHIPPING CORPORATION 42,417,689 622,000 $180,757 15,845,700
HOTEL PROPERTIES 26,914,011 35,900 $136,982 256,200
THE STRAITS TRADING COMPANY 40,767,817 59,300 $125,960 571,700
CDW HOLDING 22,724,200 652,600 $122,302 4,705,500
SPACKMAN ENTERTAINMENT GROUP 103,096,560 5,919,400 $95,004 17,919,400
INTRACO 10,372,588 179,200 $52,628 800,000
TUAN SING HOLDINGS 118,620,496 150,000 $46,873 3,855,000
Total   36,749,600 $29,858,122  

Source: Bloomberg, SGX (Data as of 31 January 2020)



The date of the relevant share buyback mandate is also provided in the table above, in addition to the amount of shares authorised to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies that issued shares that have been repurchased under the mandate are also provided.

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. As best practice, companies should refrain from buying back their shares during the two weeks immediately before its quarterly financial statements and one month immediately before the full-year financial statements.







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